Nakilat has established a new joint venture, Global Shipping Company, with shipping firm Maran Ventures.

Under the agreement, Nakilat will have a 60% stake in the JV, while Maran will hold the remaining 40%.

With some four LNG vessels under the new JV, the number of Nakilat vessels will effectively increase to 74, which is approximately 11.5% of the global LNG fleet in carrying capacity.

Nakilat chief executive officer Abdullah al-Sulaiti said, “This agreement is a step forward for the company as we expand our fleet with additional capacity to meet the growing international demand for clean energy. This has subsequently led to a significant increase in demand for LNG shipping, which we hope will have a positive effect on charter rates.

“With the four new vessels being managed and marketed by Nakilat, this not only affirms our global leadership in energy transportation but also bears testament to our vessel management and marketing capabilities with the world’s largest LNG fleet. Nakilat’s steady growth highlights our robust financial performance and strategic planning, which comes as part of our efforts to maximise returns for our shareholders and support Qatar’s industry leading position as the world’s top LNG exporter.

Al-Sulaiti said, “We have seen a shift in terms of management and vessel technology in the industry, which we have taken into consideration. Currently under construction in South Korea, the four modern vessels each have a cargo carrying capacity of 173,400 cubic metres. They are equipped with some of the most advanced technology in the market today; with two of them being equipped with ME-GI while the other two with X-DF technology.”

Maran chairman John Angelicoussis said, “Nakilat has been one of our strategic partners for many years and we are pleased to be strengthening our relationship with them. Through this new venture, I am confident that we will continue to provide first-class services together for all our LNG customers around the world and look forward to further collaborations in the future.”

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