OREANDA-NEWS. Nakilat, the shipping arm of Qatar's liquefied natural gas (LNG) sector, today announce d profits of QR 490.2 million for its half - yearly results, an increase of 10 % on the same period last year. The healthy financial results reflect Nakilat's strategic development, the success of its joint ventures, and the company's resilience in the challe nging economic climate.

The Board of Directors stated that Nakilat is in an excellent position to face the current economic situation, as the company's ships are on long - term charter hire contracts that are not impacted by temporary fluctuations in oil pr ices. The Board also stated their continued commitment to Nakilat's growth and development strategy.

Mr. Abdullah Al Sulaiti, Nakilat Managing Director said, "Nakilat's strong performance demonstrates the success of our medium to long - term strategies. We continue to maintain prudent levels of growth, we have lowered our operating costs and our financing costs are decreasi ng as we have repaid a suitable amount of our loans."

He added, "We have also seen increased profits from our joint ventures, particula rly since the launch of a new vessel in the second quarter, along with an additional five vessels that became fully operational. Nakilat's place as the lynchpin in the Qatari marine services sector will continue to grow unabated."

About Nakilat

Nakilat is a Qatari marine transport company providing essential transportation link in the State of Qatar’s LNG supply chain. Its LNG shipping fleet is the largest in the world, comprising 61 LNG vessels. Nakilat also manages and operates four l arge LPG carriers and four LNG carriers. Via two strategic joint ventures, N - KOM and NDSQ, Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters.