Nakilat logs 15.5 percent profit rise

Rate this article

By Mirza Duran 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 increased 11.3 percent to 2.02 billion riyals ($538.5 million) while general and administrative expenses decreased by 11.7 percent.

Nakilat attributed the rise to additional revenues coming from its acquisition of the remaining 49.9 percent stake in four Q-Flex vessels in October 2019.

Furthermore, the company said it “ensured no disruption

Read Full Article Here

For more great articles: LNG World News

(Visited 5 times, 1 visits today)

Comments

comments

Tagged: , ,