Qatar Milaha’s profits jump 7 times in the second quarter of 2021, supported by freight rates | Corporate News

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Qatar Navigation’s profits increased in the second quarter of 2021 by more than seven times over the corresponding period of last year, reaching about 141 million riyals.

The profits of the oldest shipping company in Qatar increased by the end of the first half of this year by 46% on an annual basis to reach 438 million riyals.

The company attributed the reasons for the growth in quarterly profits to the increase in net profit in the marine and logistics services sector by 24 million riyals, supported by the increase in freight rates and the increase in volumes, in addition to the increase in the profits of the platform support and marine services sector by 108 million riyals as a result of the decline in the value of ships compared to the same period. The period last year, in addition to an increase in the net profit in Milaha Capital sector by 43 million riyals, supported by the decline in the value of real estate recorded in the first half of 2020.





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