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.
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