Nakilat of Qatar, the world’s largest LNG shipper, posted a net profit for the year ended December 31st 2014 of QR 895 million, compared to QR 730 million achieved for the year 2013, an increase of 23%.
All aspects of the company’s operations have achieved a higher profitability level. This was clearly demonstrated by the addition of a number of LNG vessels to Nakilat’s fleet during 2014 and the improvement of liquefied petroleum gas vessels’ performance, the company said in a statement.
Nakilat’s long-term charter hire contracts place the company in a good position to face the current economic conditions. These long-term contracts will ensure the company’s financial performance is not impacted over the coming years by the oil price fluctuations, it said.
According to the statement, Nakilat is aiming to exploit future opportunities to acquire new vessels, serving the international marine sector, and to increase the utilization rate for the shipyard facilities at Erhama Bin Jaber Al Jalahma Shipyard.
1 QR = 0.274616 USD