Nakilat undertaking major fleet expansion

The company said its H1 2024 results statement that it has inked contract to build two LNG carriers and four LPG/ammonia carriers. Nakilat has also entered into long-term contracts with QatarEnergy to charter and operate nine 271,000 cu metre QC-Max LNG carriers, as well as LNG carriers of a standard 174,000 cu metres.

The charters with QatarEnergy form part of its massive newbuilding programme of over 100 LNG carrier ordered s at Korean and Chinese shipyards.

Once all the vessels are delivered in the coming years Nakilat will have a fleet of 114 ships.

For H1 2024 the company reported a net of QAR829 million up 7% year-on-year.

Eng. Abdullah Al-Sulaiti, CEO of Nakilat, commented: “We remain committed to building a future with sustainable approaches and providing secure and reliable energy transportation solutions as demand for the LNG transportation market is expected to increase worldwide.

“2024 is a milestone year for Nakilat’s expansion projects, and our latest financial results, with an increase in net profit by 7%, is a testament to the company’s two decades of global operational excellence in maritime services.”