Milaha Carriers Successfully Carry Out First Loadings of LNG

Doha, August 01 (QNA) - Milaha, a public shareholding company, announced Wednesday that the LNG carriers "Milaha Ras Laffan" and "Milaha Qatar" have successfully carried out their first loading operations. The "Milaha Ras Laffan" loaded at Ras Laffan on July 8th, 2012, while the "Milaha Qatar" loaded at the same port on July 11th, 2012, the company said in a statement published on the (Qatar Exchange) website. Both vessels are on long term time-charter to RasGas and load LNG at Ras Laffan for worldwide destinations. Qatar Shipping Company, a wholly owned subsidiary of Milaha, had recently purchased additional stakes in these two LNG carriers from Maersk, bringing its ownership to 40 percent 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. "The increased stake in both vessels will significantly benefit Milaha over the long run," said chairman and managing director HE Sheikh Ali bin Jassim Al Thani. "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-organization to prepare the foundation to achieve its goals. "As a Qatar-based company, one of our key goals is to help our gas and petroleum products exporters grow and maximize their returns by providing critical transport and logistics solutions," continued Sheikh Ali. "For us to achieve this goal, it is important that we not only invest in the right assets but also in our people." Milaha was established in July 1957 and was listed on the Qatar Exchange in May 1997. In 2010, Milaha announced the acquisition of Qatar Shipping Company. The company is active in a number of areas, including shipping, shipping agencies, ship repair, good clearance, ship supply, maintenance and building oil installations and others. (QNA)