Milaha Increases Stake in LNG Carriers

Doha, February 06 (QNA) - Milaha, previously known as Qatar Navigation, on Monday 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 Chief Executive Officer of Qatar Shipping, K. K. Kothari and Executive Vice President - Support Services, Milaha Group,Dr. Salem bin Nasser Al-Naemi 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. Milaha has become one of the largest and most diversified maritime and logistics companies in the Middle East. Our operations now range from ocean transport and offshore support services, to 3PL (third party logistics) and ancillary solutions. (QNA)