Nakilat, which has the world's largest LNG (liquefied natural gas) shipping fleet, has reported net profit of QR1.64bn in 2024, registering a 5.1% increase on an annualised basis.
The board has recommended a final dividend of 7%, thus taking the total to 14% for 2024, which is subject to approval from the shareholders at the annual general assembly meeting scheduled on February 25.
This stable growth underscores Nakilat’s operational efficiency, its ability to seize emerging opportunities, which has been evident in its 2024 new-build announcements and its resilience in navigating the challenges of the global energy transportation market.
Terming 2024 as a transformative year for it, defined by its strategic vision and operational resilience, Nakilat said through innovative practices and a focus on excellence, it has successfully managed the challenges of the global shipping environment, driving sustained growth.
Looking ahead, Nakilat is committed to leveraging its strengths and partnerships to build on this year’s successes and contribute meaningfully to the global energy transportation landscape, it added.
“Nakilat’s strategic fleet expansion, supported by its focus on achieving the highest standards of occupational health and safety, sustainability and innovation across all aspects of safe and reliable operations to meet the increasing global demand for clean energy transportation," said Abdullah al-Sulaiti, chief executive officer of Nakilat.
As the company looks to the future, it remains committed to delivering value to its shareholders and partners ensuring long-term growth and success, according to him.
"Our financial and operational achievements in 2024 reflect the commitment and dedication of our team in delivering clean energy to the world safely and efficiently. These accomplishments are a testament to Nakilat’s robust business strategy, its focus on customer centricity, and its alignment with Qatar National Vision 2030,” he said.
Nakilat’s commitment to meeting the growing demand for clean energy transport continues to take shape. This year, the company advanced its shipbuilding programme with Hyundai Samho Heavy Industries, which includes six advanced gas carriers under construction.
This programme comprises two LNG carriers, each with a cargo capacity of 174,000 cubic meters, and four modern LPG (liquefied petroleum gas)/Ammonia carriers, each with a capacity of 88,000 cubic meters.
The fleet expansion strategy is also strengthened by new long-term contracts with QatarEnergy for operating and chartering the nine QC-Max LNG carriers, each with a capacity of 271,000 cubic meters, and 25 conventional LNG carriers, each with a capacity of 174,000 cubic meters.
Upon completion of these projects, Nakilat’s fleet will expand to a total of 114 ships, reinforcing its leadership in clean energy transportation and our capacity to meet growing global energy needs.
