Qatar Gas Transport Company Limited (Nakilat) announced its financial results for the nine months period ended September 30th 2014, whereas the Company's net profit reached QR 693 million compared to QR 553 million achieved for the same period of year 2013, with an increase of 25%.
On this occasion, Nakilat's board of directors commended that the strong results of the company's earnings clearly reflect the strength and stability of the company's financial position, and the prudent strategy in exploiting valuable opportunities to develop and grow the company's main business activities in the field of liquefied natural gas (LNG) transportation to include international markets, which in turn has resulted in an increase in the number of operating vessels in Nakilat's fleet during the year 2014. The board pointed out that the strong improvement in the LPG vessels' performance contributed significantly to the achievement of these remarkable results. In addition to the increased operating activities at the shipyard facilities, which will continue to underpin the future financial results of the company.
The board has affirmed Nakilat's continuous commitment to pursue its development and growth strategy in the long term, in order to achieve strong returns to its shareholders. Nakilat will exploit future opportunities to acquire new vessels, serving the international marine sector, and to increase the utilization rate for our shipyard facilities at Erhama Bin Jaber Al Jalahma Shipyard.
Nakilat is a Qatari marine transport company providing the 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 large LPG carriers. Via two strategic joint ventures, Nakilat Keppel Offshore & Marine (N-KOM) and Nakilat Damen Shipyards Qatar (NDSQ), Nakilat operates the ship repair and construction facilities at Erhama Bin Jaber Al Jalahma Shipyard.