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Qatar Shipping full year profit rises 1.6% |
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Wednesday, 03 March 2010 |
 Qatar Shipping Co, a marine freight company, said full-year profit rose 1.6 percent to 526.3 million riyals ($145 million) from a year earlier, according to a Bloomberg report.
The company, also known as Q Ship made the announcement in a statement
to the Qatari bourse on Tuesday.
Q Ship is an international shipping company which owns and operates,
wholly and partially, a young, mixed fleet of vessels in a number of
trades which include Crude oil, Petroleum Products, Liquefied Petroleum
Gas, Ammonia, Petrochemicals, Liquefied Natural Gas and Offshore support
services.
Besides local clients like Qatar Petroleum and its subsidiaries, Qatar
Fertiliser Company, and Qatar Steel Company, Q Ship’s clients include
all the major oil and gas companies and leading international trading
companies.
Qatar Shipping Co and Qatar Navigation are proceeding with a merger
after their board of directors approved the deal, a joint statement said
in January.
Qatar's government has ordered Qatar Shipping and Qatar Navigation to
merge to protect the firms during the global financial crisis.
Source: Arabian Business
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