Nakilat, one of the world’s largest Liquefied Natural Gas (LNG) fleet operators, achieved a net profit of QAR 775 million (US$ 211.82 million) over the first half of the year ending 30th June 2023. This represents an increase of 6.1 per cent compared to the same period in 2022. The company highlights the fact that the profits of joint venture companies operating in LNG transportation and shipyards increased by 18.6 per cent in this period.
Another leading Qatari shipowner, Milaha, reported a net profit of QAR 648 million (US$ 177.11 million) for the first half of this year, compared to QAR 641 million (US$ 175.19 million) for the same period in 2022. Milaha Maritime & Logistics’ net profit decreased by QAR 152 million (US$41.54 million), as container shipping rates dropped from near record highs, while Milaha Gas & Petrochem’s net profit increased by QAR 20 million (US$5.4 million), largely driven by Milaha’s first Floating Storage & Offloading (FSO) unit, which began operations in the middle of 2022. Three other divisions, Milaha Offshore, Milaha Capital and Milaha Trading also saw improved bottom line results in this period.