Milaha posts higher profit

Image courtesy of Milaha

Doha-based Qatar Navigation (Milaha) reported a 10 percent rise in its profit in the first three months of the year.

The company’s first-quarter net profit was 260 million Qatari Riyals ($71.4m), up from 236 million Qatari Riyals for the same period in 2017.

Operating revenues rose to 698 million Qatari Riyals while operating profit increased to 203 million Qatari Riyals, the company said on Monday.

However, Milaha Gas & Petrochem’s revenue decreased by 5 million Qatari Riyals and net profit by 54 million Qatari Riyals.

“Low shipping rates and the knock-on effect on vessel valuations in the sectors we operate continue to put a damper on profits,” the company said.

Milaha Gas & Petrochem owns two LNG carriers and also holds partial stakes in seven LNG carriers. It is also the largest shareholder in Qatari LNG shipping giant Nakilat.

 

Share this article

Follow LNG World News

Posted on May 1, 2018 with tags .

Events>

<< Dec 2018 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >

LNG2019

LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >

Downstream 2019

Renowned as the most significant global meeting place for Downstream professionals…

read more >