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Nakilat reports record profit in 2023

Profit at Nakilat reached a record QAR1,559m ($427.7m) in 2023, despite geopolitical challenges in the shipping industry.

Gary Howard, Middle East correspondent

January 29, 2024

1 Min Read
Nakilat Q max LNG Carrier Mozah
Nakilat

The record profit was a 8.3% increase over 2022 and built on revenues of QAR4,653m, up 5.7% on 2022.

Nakilat CEO, Eng. Abdullah Fadhalah Al-Sulaiti, said: “This remarkable financial performance is due to the unwavering commitment of our dedicated seafarers and shore- based staff who work tirelessly to deliver clean energy to the world, safely and in a reliable manner. Their hard work and dedication have been instrumental in achieving these results.”

Nakilat further attributed its success to efficiency management of operations and the flexibility to adapt and capitalise on market changes.

Chairman of the Board of Directors Abdulaziz Jassim Al-Muftah, said the year was one of changes and challenges in the shipping market. 

“As geopolitical dynamics continue to impact global energy markets, Nakilat remains steadfast in adapting to these changes. We recognize the importance of staying agile in the face of uncertainties and are committed to overcoming challenges by leveraging our expertise and strategic partnerships with a forward-looking approach,” he said.

About the Author

Gary Howard

Middle East correspondent

Gary Howard is the Middle East Correspondent for Seatrade Maritime News and has written for Seatrade Cruise, Seatrade Maritime Review and was News Editor at Lloyd’s List. Gary’s maritime career started after catching the shipping bug during a research assignment for the offshore industry. Working out of Seatrade's head office in the UK, he also produces and contributes to conference programmes for Seatrade events including CMA Shipping, Seatrade Maritime Logistics Middle East and Marintec. 

Gary’s favourite topics within the maritime industry are decarbonisation and wind-assisted propulsion; he particularly enjoys reporting from industry events.

Conferences & Webinars

Gary Howard regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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