
Positive Results for Qatari Shipping Companies
The two leading Qatar-based shipping companies, Qatar Navigation (Milaha) and Qatar Gas Transport Company (Nakilat), have both reported strong financial results for the first nine months of 2025.
Milaha achieved operating revenues of QAR 2.46 billion for the nine months ending 30 September 2025, up from QAR 2.13 billion in the same period of 2024. This generated an operating profit of QAR 516 million, compared to QAR 445 million last year, and a net profit of QAR 1.058 billion, rising from QAR 917 million for the first three quarters of 2024.
Milan’s Maritime & Logistics division’s net profit increased by QAR 6 million, driven by improved results in port operations, while its Gas & Petrochem business recorded a QAR 115 million increase, boosted by a QAR 84 million one-time gain from the sale of two very large gas carriers (VLGCs) in Q3 2025. Milaha Offshore saw a QAR 61 million increase in net profit due to higher project activity and new vessel capacity. Two other divisions, Milaha Capital and Milaha Trading, experienced declines in bottom-line results.
Nakilat reported a net profit of QAR 1.31 billion for Q3 2025, up 3.0% from QAR 1.28 billion in the same quarter of 2024. The company is entering a critical phase in its LNG fleet expansion program, transitioning from planning to execution, with the first new vessel scheduled for delivery by the end of 2026.
The strong performances of Milaha and Nakilat highlights the continued growth of Qatar’s maritime and shipping sector, supported by strategic fleet expansions, enhanced operational efficiency and a focus on LNG and energy-related logistics.
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