Posted on October 24, 2014

Nakilat advises that the rating agency, Standard & Poor’s (S&P), has reaffirmed Nakilat Inc.’s corporate credit rating as AA- with a stable outlook. In a report published by S&P on 22nd October 2014, the rating agency highlighted Nakilat’s key strengths as being Nakilat’s importance to Qatar’s LNG strategy, Nakilat’s ownership of the world's largest LNG fleet, and Nakilat’s stable cash flows. Nakilat plays a critical role in the LNG industry, which is vital to the Qatari economy, with Nakilat's vessels connecting the LNG supply chain from upstream to downstream, according to S&P.

Standard & Poor’s reaffirms Nakilat [qatarisbooming.com].jpgThe primary positive drivers for Nakilat’s strong business profile are underpinned by its reliable operating track record since delivery of its first vessel in August 2008, says S&P in the report. Consistent profitability and strong experience in managing and operating LNG shipping are also among Nakilat’s founding strengths, according to S&P. The high credit quality of Nakilat’s charterers, its good relationship with banks, and its strong link with the Qatari state — including substantial oversight from and involvement of government officials — were also listed in the report as being among Nakilat’s strengths.

Eng. Abdullah Fadhalah Al Sulaiti, Managing Director of Nakilat, commented: “Our company’s financial strength is a valuable asset that has made Nakilat’s and the State of Qatar’s gas-carrying fleet possible. It allows us to strengthen our capabilities as well as expand our business. We are dedicated to the continual enhancement of Nakilat’s position as the world’s leading LNG shipping company. We thank Nakilat’s Chairman, His Excellency Dr. Mohammed Bin Saleh Al-Sada, for his continued support and guidance. Our strong relationship with the State of Qatar is integral to our strategy.”

Nakilat is a Qatari marine transport 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, comprising 61 LNG vessels. Nakilat also manages and operates four large LPG carriers and four LNG carriers. 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. Nakilat also offers a full range of marine support services to vessels operating in Qatari waters. For more information visit: www.nakilat.com.qa.

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