Milaha’s recently acquired liquefied natural gas (LNG) vessels have carried out the first loading under their new names and new managers.
The ‘Milaha Ras Laffan’ loaded at Ras Laffan on July 8, while the ‘Milaha Qatar’ loaded at the same port on July 11, said a spokesman in a communiqué to the Qatar Exchange. Both vessels are on long term time-charter to RasGas and load LNG at Ras Laffan for worldwide destinations.
Qatar Shipping, a wholly-owned subsidiary of Milaha (formerly Qatar Navigation), had recently purchased additional stakes in two LNG carriers from Maersk, bringing its ownership to 40% in each of the vessels. As part of the transaction, the carriers were renamed ‘Milaha Ras Laffan’ and ‘Milaha Qatar’ from ‘Maersk Ras Laffan’ and ‘Maersk Qatar’, respectively.
At ceremonies held for each of the vessels, a commemorative plaque was presented by the owners to the master of each vessel. The ceremonies were attended by representatives of the vessels owners, Societe Generale and Qatar Shipping, technical managers Pronav Ship Management, as well as representatives from the Ras Laffan port, Ras Laffan Industrial City and the charterers RasGas.
“The increased stake in both vessels will significantly benefit Milaha over the long run,” its chairman and managing director Sheikh Ali bin Jassim al-Thani said, adding “we are embarking on an ambitious expansion plan in our core shipping sector, and this is one step in that direction.”
Following the merger of Qatar Navigation and Qatar Shipping in 2010, the group redefined the long term strategy for its core sectors and is in the midst of a comprehensive re-organisation to prepare the foundation to achieve its goals.
Nifty falls below 6,050; Ranbaxy, DLF, BHEL down
The Nifty extended losses for the fourth straight session on Thursday and slipped below 6,050 level as sentiment turned bearish in Asian markets after China's May HSBC flash PMI data shrank for the f
At 1245 hrs, the sensex was down 280 points at 19,782
SBI Q4 net profit falls on lower interest income
State Bank of India, the country's largest lender, posted its first quarterly net profit drop in two years, missing market estimates after being dragged down by lower interest income and higher provi