Qatari-owned LNG transportation company Nakilat has acquired the full ownership of four Q-Flex LNG carriers from its joint-venture partner International Seaways Inc. (ISI) after execution of an agreement for the acquisition of the remaining 49.9% ownership interest in these vessels from ISI. This brings to 29 the total number of LNG vessels that Nakilat wholly owns. Its overall fleet is a combined 74 LNG and liquefied petroleum gas vessels.
With a cargo carrying capacity of 217,000 cu m each, the four LNG carriers have been operated and managed in-house by Nakilat’s ship management arm Nakilat Shipping Qatar Ltd. (NSQL) since 2014. This is in addition to the other 10 LNG and 4 LPG carriers under NSQL management.
Nakilat Chief Executive Officer Abdullah Al Sulaiti said, “Owning the vessels that we manage allows Nakilat to consolidate its fleet, provides greater operational flexibility and optimization of resources, leading to the realization of cost savings with minimal risks and strengthens our customer focus.”
Nakilat’s LNG shipping fleet is among the largest in the world, comprising of 14 Q-Max, 31 Q-Flex, and 24 conventional vessels, which includes 4 newbuilds. The company also owns 4 LPG and 1 floating storage regasification unit as part of its fleet.