Nakilat

Nakilat
Qatar Gas Transport Company.

Type	Public (DOH:QGTC)
Industry	Shipping
Founded	2004
Headquarters	Doha, Qatar
Key people	HE the Minister for Energy and Industry Mohammed Saleh Al Sada (Chairman) Abdullah Al Sulaiti (Managing Director)
Services	LNG transportation
Net income	QAR 176.6 million[1]
Total assets	QAR 31.7 billion[1]
Website	www.nakilat.com.qa

Nakilat (Qatar Gas Transport Company) is a Qatari marine 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, growing to 61 LNG vessels in 2015. In addition Nakilat manages and operates four very large LPG carriers, which Nakilat jointly owns with Milaha.

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 in the State of Qatar’s Port of Ras Laffan.

Nakilat also provides port agency services through Nakilat Agency Company (NAC) for the Ports of Ras Laffan and Mesaieed and warehousing for vessels in Qatari waters via Nakilat’s Vessel Support Unit (VSU). Joint venture Nakilat- SvitzerWijsmuller (NSW) offers marine support services at the Port of Ras Laffan and at the State of Qatar’s offshore activity around Halul Island.

History

Nakilat was established in 2004. In 2005, the company's first two LNG vessels were delivered, and Nakilat shares were floated on the Qatar Exchange. Nakilat Agency Company (NAC) Ltd. was formed, with Nakilat owning 95% of the shares, to serve the agency needs for the Port of Ras Laffan.

In 2006, two more LNG vessels were delivered to Nakilat. Nakilat was awarded 25-year time charters by Qatargas 2 and Qatargas 3 for six Q-Max vessels and 10 large LNG carriers. Construction began on the Shipyard in Ras Laffan. Nakilat's towage joint venture with Svitzer was incorporated. Nakilat-Svitzer joint venture was awarded 22-year service contract by Qatar Petroleum for the Port of Ras Laffan. Nakilat was also awarded an additional Q-Max vessel by RasGas 3 charterer. Nakilat formed a strategic alliance with Shell Trading and Shipping Company Limited (STASCO) for the management of 25 wholly owned LNG carriers

In 2007, eight LNG vessels delivered to Nakilat. The company was awarded 25-year time charter by Qatargas 4 for eight large LNG carriers. The steel cutting took place for Nakilat's first Q-Max, and Nakilat took delivery of its first Q-Flex, Al Gattara. This was the first Q-Flex vessel at Ras Laffan carrying Qatargas cargo. In 2008, 21 LNG vessels delivered to Nakilat, including the delivery of the first Q-Max, Mozah. The company's joint venture Nakilat-Keppel Offshore & Marine (N-KOM) incorporated

Eighteen LNG vessels delivered to Nakilat in 2009, along with all four LPG ships. In 2010, a further three LNG vessels were delivered to Nakilat. The company's joint venture Nakilat Damen Shipyards Qatar (NDSQ) created and the Erhama Bin Jaber Al Jalahma Shipyard inaugurated. In 2011, N-KOM received its first Qatargas vessel, Al Wakrah. In 2012, Nakilat assumed management of its four LPG carriers. Nakilat closed US $380 million Islamic financing and secured US$200 million of financing for Gulf LPG. NDSQ completed the construction of its first vessel, a 140m load-out and recovery barge and launched its first three mooring boats of a 19-vessel order. The first Qatari marine cadets signed with Nakilat.

Abdullah Al Sulaiti became Managing Director of the company in 2013. NDSQ signed contracts to build a 69m fast luxury vessel. The company increased its ownership in Maran Nakilat Co. Ltd. NSW signed a contract variation with QP for the provision of additional marine services at Ras Laffan. NDSQ and NSW signed a shipbuilding contract for seven new vessels with NSW to operate the vessels.

In 2014, N-KOM signed a contract with MAN Diesel & Turbo to collaborate on the ME-GI project. NDSQ signed two MoUs worth a total of QAR 3.1bn with Qatar Armed Forces. A deal was completed to further expand the Maran-Nakilat joint venture by adding three LNG vessels. Nakilat decides to bring commercial management of its jointly owned VLGC vessels in-house and focus on term charters. N-KOM signed a MoU with HeLenGi Engineering for the conversion of Greek ferries. N-KOM is awarded two contracts worth US $110 million by Gulf Drilling International (GDI). N-KOM signs a contract worth US $19 million with Qatar Primary Materials Company (QPMC). Four LNG vessels are brought under the management of NSQL. NDSQ delivers the first two workboats to NSW. N-KOM wins the Safety & Security Award at The Maritime Standard (TMS) Middle East and Indian Subcontinent Awards 2014. N-KOM signs a contract with DNV GL to co-operate on LNG and gas solutions projects. N-KOM received certifications from American Petroleum Institute (API).

In 2015, Nakilat's Managing Director, Abdullah Al Sulaiti, was named one of the Gulf region's top CEOs. ^[2]

Fleet

Mozah, Nakilat's flagship vessel, at Ras Laffan

Nakilat’s core business of shipping Qatari liquefied natural gas (LNG) to global markets is key to our company’s strength. The fleet, growing to 61 wholly and jointlyowned vessels, represents one of the world’s newest and largest LNG fleets, with all vessels incorporating state-of-the-art technology to ensure the safe, environmentally sound and cost-effective transportation of LNG. The ships represent a total investment of approximately US$12 billion and have a combined aggregate carrying capacity of nearly nine million cubic meters of LNG cargo space.

Nakilat LNG ships are utilized in meeting the transportation requirements of the State of Qatar’s LNG industry, providing the country and the world with a strategically important ‘floating pipeline’ of clean energy. Nakilat’s LNG vessels are chartered through long-term time charter agreements with Qatargas and RasGas. The 25 wholly owned LNG vessels are operated via a strategic alliance with Shell International Trading and Shipping Company Ltd. (STASCO). Nakilat’s 36 (including two vessels to be delivered first-half 2015) jointly owned LNG vessels are operated by the vessel’s co-owners, which include many of the world’s leading ship owning and operating companies.

In addition to the 61 LNG carriers, Nakilat also jointly owns four liquefied petroleum gas (LPG) carriers through Gulf LPG, a joint venture owned 50 per cent by Nakilat and 50 per cent by Milaha. Gulf LPG’s four very large LPG carriers are fully operated and managed by Nakilat Shipping Qatar Limited (NSQL), a wholly owned subsidiary of Nakilat.^[3]

Shareholders

The major shareholders of the company are: Qatar Petroleum (1%), Qatar Fuel [Woqod](2%), Qatar Education & Health Fund (2%), Military Pension Fund & other Qatari government agencies (2%), Qatar Foundation Fund (4%), Qatar Pension Fund (10%), Milaha [the new identity for the two combined companies Qatar Navigation and Qatar Shipping] (30%) and Qatari Citizens / Other (49%).^[4]

Recent achievements

LNG ship management

In June 2012, full responsibility for the management and operations of Nakilat’s four LPG carriers was transferred from STASCO to NSQL. ^[5]In 2014 NSQL assumed ship management responsibility for the four Nakilat / OSG Q-Flex LNG vessels in a challenging timeframe, commencing in February and completing in July of the same year, bringing the number of gas vessels fully managed by NSQL to eight.^[6] As part of the company’s long-term strategic vision for growth, Nakilat intends to take on further ship management responsibilities for more of its LNG vessels.

Expansion of Maran joint venture fleet

In April 2014, Nakilat, together with its joint venture partner Maran Gas, agreed to increase the venture by adding three additional LNG vessels to its fleet. One vessel added was a modern steam ship currently in service while the other two will be delivered during the first half of 2015 following completion of their construction in Korea.

The three new vessels added, together with the four vessels added last year, are for international service and carry cargo for producers all around the world, not just from Qatar. After delivery of the two newbuilds during the first half of 2015, the Maran-Nakilat joint venture will have a total of 11 vessel and Nakilat will have ownership in a total of 61 vessels in service by mid-2015.

LNG commercial ship management

With the dissolution of the commercial LPG pool in which the four Very Large Gas Carriers (VLGCs) were operating, Nakilat decided to bring the commercial management of these vessels in-house and focus on term charters. Nakilat was successful in chartering the vessels to major industry players and thus locking in strong revenue for a minimum of two years.

Recruitment of Qatari marine cadets

Nakilat currently has 18 Qatari nationals on its Marine Cadet Program. Nakilat sponsors its marine cadets through a four- to five- year degree course at the International Maritime College of Oman (IMCO), including 12 months of sea time spent aboard Nakilat ships. Upon completion of the program, the cadets will be qualified as deck officers or marine engineers with secured jobs aboard Nakilat vessels.

Nakilat plans to continue to dispatch its marine cadets to study in Oman and other countries in schools with high maritime standards, until the State of Qatar’s own international maritime academy is established.

See also

• Nakilat Damen Shipyards Qatar

References

External links

• Official website