Milaha raises profit by 17 percent

Arabic shipping group Milaha managed to raise its net profit by 17 percent in the first nine months of the year, the company’s interim report shows.

Photo: Milaha

Arabic shipping group Milaha has lifted its net profit by 17 percent to QR 959 million, or roughly USD 264 million, in the first nine months of 2015 compared to the same period last year, when it presented a profit of QR 821.

Operating revenues also increased by 17 percent, landing at GR 2.3 billion for the first nine months in which the company registered progress across the board. Milaha raised revenue by 30 percent and net profit by a staggering 151 percent in its Maritime and Logistics division, due mainly to the port and container shipping units, which were positively impacted by significant growth in trade volumes, driven largely by an increase in project and infrastructure activity in Qatar.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Extreme container rates can push shippers into bankruptcy

Extreme container freight rates might lead to a string of bankruptcies for companies without transport deals, says shipping analyst Lars Jensen in an analysis to Shippingwatch. Particularly smaller fashion brands are under pressure, according to trade organization.

Containers piling up at Port of Felixstowe

Efficiency is dropping at UK container port Felixstowe while containers are piling up, according to Vesselsvalue. Some carriers are now opting to divert their vessels away from the port.

Multipurpose market red-hot but short on capacity

With acute shortages of capacity, bottlenecks and ensuing delays have continued to affect the multi-purpose sector, where containers are lucrative goods. The rates are currently record high, according to an analysis from Toepfer Transport.

Further reading

Related articles

Trial banner

Latest news

See all jobs