Doha-based shipowner Nakilat has reported a strong set of financial results for the first half of the year with the company achieving a net profit of QR 636 million compared to QR 550 million during the same period in 2020, an increase of 15.6%.
During this period Nakilat successfully completed the transition of seven LNG carriers to its in-house management and took delivery of two out of four large LNG newbuildings it has on order. Additionally, Nakilat’s ship repair, offshore fabrication, towage and other maritime services have remained fully operational during the pandemic.
Nakilat Chief Executive Officer, Eng. Abdullah Al Sulaiti, said: “Our outstanding financial performance in the first half of 2021 is a testament to our concerted efforts. Despite the sudden adjustment to enhanced health and safety protocols, Nakilat remained steadfast in executing our strategies, sustaining operational efficiencies while ensuring fiscal discipline across all our shipping and maritime operations. The company persevered and has managed to sustain its growth momentum while continuing to create value for our shareholders, thanks to the valuable efforts and contributions of our employees and seafarers.”
Including the two newbuildings yet to come, Nakilat now has a fleet of 74 ships. These include 69 LNG carriers, 4 LPG tankers and an FSRU. All four newbuilings have agreed short-term contracts with a leading industry player.