Milaha, previously known as Qatar Navigation, today announced that its fully-owned subsidiary, Qatar Shipping Company, has signed an agreement to increase its stake in two LNG carriers.
Qatar Shipping Company, represented by Mr. K. K. Kothari, Chief Executive Officer of Qatar Shipping, and Dr. Salem bin Nasser Al-Naemi, Executive Vice President – Support Services, Milaha Group, recently signed an agreement in Copenhagen to buy Maersk LNG’s 15% stake (out of their total holding of 26%) in two LNG Carriers, Maersk Ras Laffan and Maersk Qatar. With this acquisition the stake of Q Ship in these two carriers will increase to 40%.
Pursuant to this acquisition these two ships will be renamed Milaha Ras Laffan and Milaha Qatar. Q Ship will be the Manager of these ships which are on long term charter to Ras Gas and will continue to be on this charter for the next 19 years. Pronav, a German Company will be the technical operator.
His Excellency Sheikh Ali bin Jassim Al-Thani, Chairman & Managing Director of Milaha Group said that he was very pleased with this acquisition which will significantly benefit the Milaha Group over a very long period of time.
Today, Milaha has become a large, diversified strategic holding company with core interests in various maritime transport sectors as well as logistics. Yet as diverse as the company has become, it has always succeeded through unity and synergy: every part working together for the good of the whole through shared values and ethics.
About Milaha
The company was established in July 1957, as the first public shareholding company registered in Qatar and holds commercial registration no. 1. The aim in establishing the company was stimulating growth in the Qatari economy through the provision of shipping, transportation, and cargo handling services necessary to link Qatar with the rest of the world. The company has since evolved, expanded and diversified into maritime transportation in gas, petroleum products, containers and bulk; offshore support services; port management; logistics services; shipyard; trading agencies; real estate; and asset management.
ROME (Reuters) – An Italian judge on Friday cleared three migrant sea rescue charities that had been accused of abetting irregular immigration in complicity with human traffickers, throwing out a case opened...
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
(Bloomberg) — An Iranian ship that’s been linked to Houthi attacks in the Red Sea is returning home, removing a prominent asset in the area as the Islamic Republic braces...
April 18, 2024
Total Views: 1489
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.