Nakilat's 1Q Profit Up 9%

Qatari state LNG shipowner Nakilat’s net profit for the three months to March 31 (1Q2019) was Qatari riyal 236mn ($65mn), up 9% year-on-year, it said April 21.

The increase in net profit was mainly due to the acquisitions of two LNG carriers and one floating storage regasification unit (FSRU) in 2018, and higher volume of projects at ship repair facility, the company added.

Nakilat said it has managed to grow its international portfolio through the recent expansion with Maran Gas Ventures to include four additional LNG carriers. With four LNG vessels under the new JV, the number of Nakilat’s vessels has increased to 74, accounting for approximately 11.5% of the global LNG fleet in carrying capacity, it said.