{"id":13681,"date":"2020-07-16T07:21:26","date_gmt":"2020-07-16T04:21:26","guid":{"rendered":"https:\/\/www.al-sindbad.net\/nakilat-logs-15-5-percent-profit-rise\/13681\/"},"modified":"2020-07-16T07:21:26","modified_gmt":"2020-07-16T04:21:26","slug":"nakilat-logs-15-5-percent-profit-rise","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/nakilat-logs-15-5-percent-profit-rise\/13681\/","title":{"rendered":"Nakilat logs 15.5 percent profit rise"},"content":{"rendered":"

<\/p>\n

Qatar’s Nakilat, the world’s largest LNG shipper, reported a 15.5 percent rise in first-half profit as it reduced administrative costs and purchased stakes in four vessels.<\/strong><\/p>\n

\"Q-Max
Q-Max LNG carrier Mozah (Image: Nakilat)<\/figcaption><\/figure>\n

The Qatari LNG shipping giant posted a net profit of 550 million riyals ($151 million) compared to 476 million riyals in 2019.<\/p>\n

Revenue increased 11.3 percent to 2.02 billion riyals ($538.5 million) while general and administrative expenses decreased by 11.7 percent.<\/p>\n

Nakilat attributed the rise to additional revenues coming from its acquisition of the remaining 49.9 percent stake in four Q-Flex<\/a> vessels in October 2019.<\/p>\n

Furthermore, the company said it “ensured no disruption to its business” despite the ongoing challenges of the Covid-19 pandemic.<\/p>\n

One of the moves that also contributed to the company’s performance was the launch of the second phase<\/a> of its fleet management transition from Shell.<\/p>\n

Nakilat transitioned two LNG vessels in the second quarter.<\/p>\n

In addition, the company followed through its fleet expansion plans and took delivery of a newbuild vessel chartered by Qatargas.<\/p>\n

Following the delivery of all four LNG newbuilds by end-2021, Nakilat’s fleet will rise to 74 vessels. <\/p>\n

These include four LPG carriers and one FSRU.<\/p>\n

The post Nakilat logs 15.5 percent profit rise<\/a> appeared first on Offshore Energy<\/a>.<\/p>\n

world maritime news<\/p>\n","protected":false},"excerpt":{"rendered":"

Qatar’s Nakilat, the world’s largest LNG shipper, reported a 15.5 percent rise in first-half profit as it reduced administrative costs and purchased stakes in four vessels. Q-Max LNG carrier Mozah (Image: Nakilat) The Qatari LNG shipping giant posted a net profit of 550 million riyals ($151 million) compared to 476 million riyals in 2019. Revenue …<\/p>\n","protected":false},"author":1,"featured_media":13682,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[7773,1062,3658,3543,1575],"class_list":["post-13681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-logs","tag-nakilat","tag-percent","tag-profit","tag-rise"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/13681","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=13681"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/13681\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/13682"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=13681"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=13681"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=13681"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}