Milaha (formerly Qatar Navigation) has said its fully-owned subsidiary, Qatar Shipping Company, will purchase additional stakes from Maersk in two LNG carriers, Gul Times reports.
Qatar Shipping has entered into an agreement 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, the stake of Milaha subsidiary in these two carriers will increase to 40%.
However, Milaha, which accounts for 5% of Qatar Exchange’s 20-stock index, did not disclose the size of the deal.
Pursuant to this acquisition, the two ships will be renamed Milaha Ras Laffan and Milaha Qatar. Qatar Shipping will be the manager of these ships which are on long term charter to RasGas and will continue to be on this charter for the next 19 years. Pronav, a German Company will be the technical operator.
Qatar Shipping, represented by its CEO KK Kothari and Milaha Group executive vice president (support services) Salem bin Nasser al-Naemi signed the agreement in Copenhagen.
The acquisition will significantly benefit the Milaha Group over a very long period of time, according to its chairman and managing director Sheikh Ali bin Jassim al-Thani (pictured).
Milaha is a large, diversified strategic holding company with core interests in various maritime transport sectors as well as logistics, its spokesman said.
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, the spokesman added.
Qatar Shipping has entered into an agreement 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, the stake of Milaha subsidiary in these two carriers will increase to 40%.
However, Milaha, which accounts for 5% of Qatar Exchange’s 20-stock index, did not disclose the size of the deal.
Pursuant to this acquisition, the two ships will be renamed Milaha Ras Laffan and Milaha Qatar. Qatar Shipping will be the manager of these ships which are on long term charter to RasGas and will continue to be on this charter for the next 19 years. Pronav, a German Company will be the technical operator.
Qatar Shipping, represented by its CEO KK Kothari and Milaha Group executive vice president (support services) Salem bin Nasser al-Naemi signed the agreement in Copenhagen.
The acquisition will significantly benefit the Milaha Group over a very long period of time, according to its chairman and managing director Sheikh Ali bin Jassim al-Thani (pictured).
Milaha is a large, diversified strategic holding company with core interests in various maritime transport sectors as well as logistics, its spokesman said.
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, the spokesman added.