Company Research Report: Qatar Navigation Q.P.S.C. ("Milaha")

Company Overview

Name: Qatar Navigation Q.P.S.C. ("Milaha")

Mission: To deliver integrated transport and supply chain solutions.

Founded: 1957

Founder: No specific information about the individual founders is available.

Key People: Mr. Fahad Saad Al-Qahtani, Group CEO

Headquarters: East Industrial Road, Umm Al Saneem Area, Street No. 100, Zone 56, P.O. Box 153, Doha, Qatar

Number of Employees: No information is available.

Revenue: Operating income for 2022 was 3,285 million QAR (approx. $903 million USD).

What is the Company Known For: Milaha is known for being one of the largest and most diversified maritime and logistics companies in the Middle East, focusing on integrated transport and supply chain solutions.

Products

Milaha operates through five strategic business units, offering a broad range of services:

Maritime & Logistics

Description: Provides integrated supply chain solutions.

Key Features: Includes container shipping, freight forwarding, warehousing, distribution, and project logistics.

Offshore Marine

Description: Offers offshore support and subsea services.

Key Features: Includes offshore oil & gas solutions, offshore services, and harbor services.

Gas & Petrochem

Description: Focuses on marine energy transportation.

Key Features: Owns and operates Aframax/LR2 tankers, LNG and LPG/ammonia carriers.

Marine & Technical Services

Description: Provides comprehensive asset lifecycle services.

Key Features: Offers marine services, vessel agency services, cargo agency services, ship management, and industrial technical services including steel fabrication and heavy equipment.

Capital

Description: Manages real estate and financial investments.

Key Features: Maintains a large portfolio of financial and property investments.

Recent Developments

New Fiber Link Project EPCIC Contract: Awarded to Milaha's subsidiary, Halul Offshore Services Company W.L.L., valued over QAR 262 million to enhance connectivity in Qatar’s energy sector.

Long-Term Charter Contract: Secured a ten-year contract with North Oil Company (NOC) valued at QAR 792 million for the operation of the Milaha Al Shaheen jack-up barge.

New Yachts and Ships Yard Announcement: Partnership with Qatar Free Zones Authority (QFZ) to create a new QAR 80 million yachts and ships yard in Umm Alhoul Free Zone.

Participation at ADIPEC 2024: Announced participation in the Abu Dhabi International Petroleum Exhibition Conference.

Financial Highlights

Operating Revenues (2024): QAR 2.13 billion for the nine months ended September 30, 2024.

Operating Profit (2024): QAR 445 million for the nine months ended September 30, 2024.

Net Profit (2024): QAR 917 million for the nine months, up 5% from the same period in 2023.

Earnings per Share (2024): Increased to QAR 0.81 for the nine months ended September 30, 2024.

Awards and Recognition

Forbes Middle East listed Milaha as one of the top 100 companies worldwide in 2023.

Awarded "Excellence in Maritime Services" at ShipTek in India in 2023.

Recognized by the British Safety Council with four "Sword of Honor" awards.

Strategic Initiatives and Partnerships

Strategic Alliance with Turkish Hareket: In January 2023, to offer integrated heavy lift and oversized transportation services.

Partnerships with Oracle and Google Cloud: To accelerate digital transformation and modernize data platforms.

Accredited as Authorized Economic Operator (AEO): By Qatar Customs to exercise importing and exporting with top international standards.

Conclusion

Qatar Navigation Q.P.S.C. ("Milaha") continues to strengthen its position as a leader in maritime and logistics solutions in the Middle East through strategic investments, partnerships, and expansion of services. The company remains committed to innovation, sustainability, and enhancing Qatar's offshore capabilities in line with the Qatar National Vision 2030.