Nakilat and Shell Commence Second Phase of Fleet Management Transition

Singapore freight forwarders – Star Concord

Nakilat has commenced the second phase of its fleet management transition from Shell International Trading and Shipping Company Limited (”Shell”), with Q- Max LNG carrier Al Mayeda being the first vessel transitioned as part of several vessels phased management transition agreement. The technical management of Al Mayeda will be undertaken by Nakilat’s in-house ship management arm, Nakilat Shipping Qatar Limited (NSQL), bringing NSQL’s managed fleet size by the end of the current year to 25 vessels once the transition is completed (21 LNG and 4 LPG carriers).

Despite the ongoing challenges of the global pandemic, Nakilat continued to uphold operational excellence in the management of its LNG and Liquefied Petroleum Gas (LPG) vessels and ensured no disruption to its business, demonstrating it strong commitment to safely, reliably and efficiently provide shipping and maritime services. The company’s recent business activities regarding ship management within a short period of time has not only contributed to the overall fleet growth, but also strengthened the position as a global leader and provider of choice for energy transportation and maritime services. Nakilat’s success in commencing the second phase of fleet management transition will contribute in laying a solid foundation for an integrated maritime industry in the State of Qatar, in line with the Qatar National Vision 2030 for economic growth.

In 2017, Nakilat successfully transitioned 10 vessels to in-house management, achieving excellent results in safety and operational performance, better than the industry average in the global shipping sector.

Nakilat Chief Executive Officer Eng. Abdullah Fadhalah Al Sulaiti said: “Despite the current challenges the world is facing as a result of the COVID-19 pandemic, Nakilat has followed through with its growth strategy and commenced the second phase of its fleet management transition. This will see us expanding our ship management capabilities and become a strong, fully-fledged shipping and maritime company. The management of our vessels centrally from Qatar will allow Nakilat to capitalize on existing synergies with our main charterer, realize operational efficiencies and optimize costs.”

Al Sulaiti added, “With a decade of experience managing LNG and LPG carriers, we are committed to upholding the highest standards of safety and quality to ensure the integrity of cargo from Qatar to the rest of the world, as evidenced from the LTI-free year achieved by the NSQL- managed fleet in 2019. I would like to extend our deepest appreciation to everyone involved in making today’s transition a success, which is the fruition of hard work, careful preparations and a common desire to propel Nakilat forward as a global leader and provider of choice for energy transportation and maritime services.”

Wholly-owned by Nakilat and chartered by Qatargas, Al Mayeda is a Q-Max LNG carrier with a cargo carrying capacity of 266,000 cubic meters. The vessel has completed 88 voyages, covering almost 1,105,425 nautical miles, since it was delivered in February 2009.