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Doha-based Nakilat has taken delivery of a newbuild LNG carrier, Global Sea Spirit, which will be commercially and technically managed in-house by Nakilat Shipping Qatar Limited (NSQL). Built by Daewoo Shipbuilding & Marine Engineering (DSME) in South Korea, this is the third of four LNG newbuild carriers to be delivered to Global Shipping, a joint venture between Nakilat (60%) and Maran Ventures (40%). The first two LNG carrier newbuilds (ME-GI type) were delivered in May 2020 and January 2021 respectively and are currently in service.
With a cargo carrying capacity of 174,000 m3, Global Sea Spirit is the first vessel with X-DF propulsion to join the Nakilat fleet, with the second newbuild with X-DF propulsion expected to be delivered early next year. Like the ME-GI system, vessels running with X-DF engines propulsion are designed to be more fuel efficient, reduce greenhouse emissions and environmentally friendly due to their low carbon emissions.
The delivery of all four newbuild LNG carriers by 2022 will bring Nakilat’s fleet to 74 vessels, which is just under 12% of the current global LNG fleet based on carrying capacity. To date, there are 24 LNG carriers, four LPG carriers and one Floating Storage Regasification Unit (FSRU) vessel being managed and operated in-house by NSQL.
In a significant recent initiative, Nakilat and Karpowership have signed a Memorandum of Understanding to collaborate in the LNG-to-power market and jointly own and operate Floating Storage Regasification Units (FSRUs). The MoU outlines an ambitious plan for the immediate future with Nakilat and Karpowership hoping to set up a new joint venture and deliver the first FSRU by 2023.
Nakilat recently reported financial results for the third quarter of the year, ending September 30th, achieving a net profit of QR 1,003.6 million. This represents a 11.5% year on year increase compared to the net profit of QR 900 million reported during the same period in 2020.
