Qatar's Nakilat seals $662m loan refinancing deal

  • Share via facebook
  • Tweet this
  • Bookmark and Share

LNG shipper Maran Nakilat Co Ltd has sealed a loan refinancing deal worth $662.4m, allowing it to proceed with an expansion of its LNG carrier fleet to six ships from four, one of its parent companies has said.

Qatar Gas Transport Co, commonly known as Nakilat, said the deal had also increased its shareholding in the company, a joint venture with Greece-based Maran Ventures Inc but gave no details of the ownership structure of the company either before or after the change.

The vessels being added to Maran Nakilat's fleet are already under construction in Korea, the company said. Delivery is scheduled for early 2014.

Qatar Islamic Bank and Barwa Bank funded the refinancing, which takes Nakilat's total fleet size to 56 LNG vessels, it added.

Earlier this month, Nakilat signed a $917m loan refinancing deal with Qatar National Bank

The company will post second-quarter earnings on July 14. It reported a flat net profit for the first quarter in April.

Related:
Topics

Market Performance

Qatar Gas Transport Company
23.15
-0.06 -0.26 (%)
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!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi riyal peg pressure eases, but not gone

Saudi riyal peg pressure eases, but not gone

Volatile energy swings mean the currency remains vulnerable,...

The Gulf's sovereign dilemma

The Gulf's sovereign dilemma

With oil prices still faltering around their lowest level in...

Gulf's bond market thaws as panic over oil fades

Gulf's bond market thaws as panic over oil fades

Improved sentiment seen in the response to a $500m, five-year...

Most Discussed
sponsoredTracking