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Nakilat posts Q2 rise in profits

LNG Industry,

Qatar Gas Transport Co. Nakilat posted a half yearly net profit of US$ 123 million, a 24% increase from the US$ 99 million it registered over the same period in 2013. In Q2 2014 the company made a net profit of US$ 65.6 million, up from 48.6 million in the corresponding period last year, according to Retuers’ calculations.

Rise in net profit was due to Nakilat’s financial stability, prudent strategic plan, significant improvement in international charter rates in the transportation of LNG and increased activity at the company’s shipyards, a statement from Nakilat said.

“This has resulted in an increase in the number of operating vessels in Nakilat fleet during the first half of 2014,” a statement from the company read.“Nakilat’s commitment to pursue its development and growth strategy continuously and systematically in order to achieve strong returns to its shareholders.”

Edited from various sources by Ted Monroe

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