Qatar Gas Transport Company Limited (Nakilat) announced its financial results for the first half of 2014, where the Company's net profit reached QR 446 million compared to QR 360 million achieved during first half of last year (2013), with an increase of 24%.
On this occasion, Nakilat's board of directors stated that the strong results of the company's earnings clearly reflect the strength and stability of the company's financial position, and the prudent and effective strategic plan related to the development of our main business activities in the transportation of liquefied natural gas (LNG) to include international markets. This has resulted in an increase in the number of operating vessels in Nakilat fleet during the first half of 2014.
The board of directors pointed out the positive effect of the remarkable improvement in the international charter rate for the transportation of liquefied petroleum gas vessels, and the increased operating activities at the shipyard facilities, which will continue to underpin the future financial results of the company.
The board has affirmed Nakilat's commitment to pursue its development and growth strategy continuously and systematically, in order to achieve strong returns to its shareholders. Nakilat will continue to look for good opportunities to acquire new vessels, and to increase the utilization rate for our shipyard facilities at "Erhama Bin Jaber Al Jalahma Shipyard".
Nakilat is a Qatari marine transport company providing the essential transportation link in the State of Qatar's LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising 61 LNG vessels. Nakilat also manages and operates four large LPG carriers. Via two strategic joint ventures, Nakilat Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ), Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters.