Qatar's Nakilat Q2 profit rises on higher charter rates

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Qatar Gas Transport Co (Nakilat), one of the world's largest shippers of liquefied natural gas, posted a rise in second-quarter net profit on Wednesday, citing higher charter rates for gas transportation.

It made a net profit of 238.6 million riyals ($65.6 million) in the three months to June 30, according to Reuterscalculations based on its first-half financial statement. This compares with a profit of 182.4 million riyals in the corresponding period of 2013.

QNB Financial Services had forecast Nakilat's quarterly net profit would be 199.2 million riyals.

The company's net profit for the first half of 2014 was 444.9 million riyals, up from 359.2 million riyals a year earlier, it said.

Nakilat cited a "remarkable improvement" in international charter rates for LNG transportation as well as increased activity at the company's shipyard facilities.

The company said it would continue to look for good opportunities to acquire new vessels, and to increase the utilisation rate at its Erhama Bin Jaber Al Jalahma Shipyard.

Related:

Market Performance

Qatar Gas Transport Company
22.53
-0.03 -0.13 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
From bigger, faster and windowless planes to escape pods, pilotless cockpits & virtual reality entertainment: The future of aviation

From bigger, faster and windowless planes to escape pods, pilotless cockpits & virtual reality entertainment: The future of aviation

How will passengers’ flight experience be in the future? Advances...

How Gulf banks are helping to underwrite region's aviation boom

How Gulf banks are helping to underwrite region's aviation boom

Figures from Airbus show that 47% of MidEast aircraft deals in...

2
The inside story of the new Airbus A350 jet

The inside story of the new Airbus A350 jet

Customers, suppliers and industry sources share their insights...

Most Discussed