Boston, MA -- (SBWire) -- 07/22/2013 --The Qatari shipping sector continues to be dominated by the export of the country's key commodity, natural gas, through the export terminal of Ras Laffan. Much of this is carried by national carrier Qatar Gas Transport (Nakilat). However, the country is looking to increase its container and dry bulk shipping presence as well, through the development of the New Doha Port, which is being developed with an eye towards capturing some lucrative transhipment trade. Further, Qatar is making its presence felt in foreign ports sectors and is investing in developing facilities in Egypt.
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- 2013 Port of Doha container throughput forecast to grow 3.6%, and to average 4.3% per annum to 2017 (including transferred operations to New Doha from 2015).
- 2013 Port of Doha total tonnage throughput forecast to expand by 2.9% to 8.68mn tonnes, and to average 4.1% per annum over our forecast period (including transferred operations to New Doha from 2015).
- 2013 total trade growth forecast at -1.2%, and to average -2.4% over our forecast period as gas prices fall.
Key Industry Trends
Milaha's Operating Revenue Up 7% In 2012: Qatari shipping company Milaha, formerly known as Qatar Navigation, registered a 7% year-on-year (y-o-y) increase in operating revenue to QAR2.35bn (US$644.98mn) in 2012, compared with QAR2.19bn (US$601.07mn) in 2011. The company's net profit also climbed 17% y-o-y to QAR835mn (US$229.17mn) in 2012, compared with QAR711mn (US $195.14mn) in the year-ago period.
Nakilat Sees Flat Net Profit In Q113: Qatar Gas Transport Company (Nakilat) registered a flat net profit of QAR177.2mn (US$48.7mn) in Q113, compared with a net profit of QAR176.6mn (US$48.5mn) in Q112, reports Reuters.
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Now Available: Qatar Shipping Report Q3 2013
Fast Market Research recommends "Qatar Shipping Report Q3 2013" from Business Monitor International, now available