Qatar’s Nakilat says profit climbs in H1

Qatari LNG shipping giant Nakilat said both its net profit and revenue rose in the first half of this year compared to the same period last year.

The firm reported a net profit of about 775 million riyals ($206.6 million) in the January-June period, a rise of 6.1 percent compared to 730 million riyals in the same period last year.

According to Nakilat, net profit in the first half was driven by higher revenues offset by higher finance charges.

Total revenue increased by 6.9 percent year-on-year to 2.29 billion riyals in the first half due to higher results from joint ventures and higher interest income, it said.

In the first quarter, Nakilat reported net profit of about 396 million riyals and total revenues of 1.12 billion riyals.

Nakilat also said that its expenses rose 7.3 percent to 1.51 billion riyals in the first half due to higher finance charges.

Citing Clarksons data, Nakilat said spot LNG rates for 160,000-cbm DFDE vessels rose by 42 percent in the second quarter to $113,000 per day when compared to the prior quarter.

Rates for ME-GI vessels increased by 28 percent to $147,000 per day in the second quarter.

In October 2021, Nakilat took delivery of the 173,400-cbm Global Sea Spirit, followed by the 174,000-cbm Global Sealine in January last year.

Following these deliveries, Nakilat’s fleet rose to 74 vessels. These include four LPG carriers and one FSRU.

Most Popular

Fluxys awards Zeebrugge LNG gig to Sacyr Proyecta

Belgium's Fluxys has awarded a new contract to Spain's Sacyr Proyecta for services at its LNG terminal in Zeebrugge, Belgium.

Rotterdam LNG bunkering volumes climb in H1

Liquefied natural gas (LNG) bunkering volumes in the Dutch port of Rotterdam rose in the first half of this year compared to last year, despite a drop in second-quarter volumes.

China’s gas imports up in June

China's natural gas imports, including pipeline gas and LNG, rose by 1.1 percent last month compared to June 2024, according to customs data.

More News Like This

HD Hyundai Heavy starts building Nakilat’s LNG carrier

South Korean shipbuilder HD Hyundai Heavy Industries has officially started building Nakilat’s first of 17 LNG carriers as part of an order placed last year.

Nakilat’s Q1 profit up 3.2 percent

Qatari LNG shipping giant Nakilat said its net profit increased 3.2 percent in the first quarter compared to last year.

VesselsValue: South Korea’s LNG carrier orderbook worth $71.3 billion

South Korean yards have 276 LNG carriers worth $71.3 billion on order, according to the newest data by Veson Nautical’s VesselsValue.

HD Hyundai Samho kicks off work on Nakilat’s LNG carrier

South Korean shipbuilder HD Hyundai Samho has officially started building Nakilat’s first of two LNG carriers as part of an order placed last year.