Qatar Shipping H1 profit surges 97 per cent

DOHA — Qatar Shipping Company (Q-Ship) has estimated its 6-month profits for the year to June 30 2005 at QR261.4 million — an increase of approximately 97.3% over the same period last year.

By From Our Correspondent

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Published: Sun 10 Jul 2005, 10:33 AM

Last updated: Thu 2 Apr 2015, 4:38 PM

Chairman and MD, Salem Butti Al Naimi, says: "the excellent profits are the result of apt freight management, a buoyant market, and profit generated from investment." Q Ship's fleet expansion programme and participation into LNG ship-owning activities reflect the strength and future prospects of the company, he adds.

During the first half of 2005, Q-Ship has taken delivery of one LNG vessel and a further two are scheduled for delivery in September and November this year, while the company will take delivery of two Crude Tankers in September and December.

Q-Ship recently placed orders for four Very Large Carriers for delivery in 2008-2009.

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