Ghannam and Saputra addressing the media yesterday
Nakilat, along with its joint venture partner Damen Shipyard, is expecting to complete the Load-Out/Recovery Barge for Qatar Petroleum by next year.
“It is expected to be ready by next year,” Nakilat managing director Muhamad Ghannam told reporters, in the presence of chief financial officer Eddy Saputra, at a function to discuss its first half results, which showed a 16% growth in net profit to QR381.24mn.
When completed, the barge will be 140 metres in length with a beam of 35 metres with capability to launch and recover vessels and offshore equipment up to a weight of 10,000 tonnes, he said.
The NDSQ (Nakilat-Damen Shipyard Qatar), which is building the barge, also seeks to construct high value ships of up to 120 metres in length.
In addition to its core marine transportation business, the company further diversified its business portfolio with the commissioning of a major portion of its new world-class Erhama Bin Jaber Al Jalahma Shipyard in the Ras Laffan port.
In 2010, and in support and on behalf of NDSQ, Nakilat signed a memorandum of understanding (MoU) with the Qatar Emiri Naval Forces for the construction and delivery of six naval patrol boats. A further MoU with Qatar Petroleum was executed for the provision of 19 vessels including harbour tugs, pilot and service boats at the Port of Mesaieed.
Total assets of Nakilat were valued at QR31.76bn, comprising current assets of QR2.32bn and non-current assets of QR29.44bn.
Total equity (before hedge reserve and non-controlling interests) stood at QR6.87bn on a capital base of QR5.54bn and earnings-per-share was QR0.69 at the end of June 30, 2011.