Q Ship net profits at QR413.9m

DOHA — Qatar Shipping Company (Q Ship), has announced record profits of QR413.9 million in 2005, compared to QR223.1 in 2004.

By From Our Correspondent

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Published: Fri 3 Mar 2006, 10:41 AM

Last updated: Sat 4 Apr 2015, 3:26 PM

The board has recommended distribution of 45 per cent cash dividends to shareholders and at the same meeting approved the establishment of a Joint Venture Company with Qatar Gas Transport Co. Nakilat for which a MoU was signed on February19, 2005.

The Chairman and Managing director, Salem Butti Al Noeimi said the company had been able to achieve record profits thanks to its operating policies and fleet expansion programme.

The Q Ship board also discussed the different options in respect to selling/operating the two crude oil tankers built recently.

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