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Qatar - Shipping.

The Qatar National Navigation and Transport Co. (QNNTC) has a fleet of crude oil tankers. It has a products marketing unit, Qatar National Bunker and Tank Services (QNBTS), which owns tankers for oil products and smaller vessels for bunkering.

QNNTC also has tankers transporting polyethylene exports. It has doubled its fully cellularised container fleet to four.

The Qatar Shipping Co. (Q-Ship), set up in 1992 with operations started in 1994, has a fleet of tankers transporting crude oils, oil products, LPG, metals and iron ore. In addition, it has one tanker mainly used for loading fuel oils from Bandar Khomeini in Iran and discharging them at Red Sea and East African ports, and in Australia and the Far East.

The fleet also shuttles to Halul terminal QP's share of crude oil being produced from al-Shaheen field.

Publicly traded and capitalised at about $275m, of which half is paid up, Q-Ship is owned 16% by QNNTC, 15% by QP and 7% by Qatar Steel Co. The other shareholders are Qatar National Bank, Qatar Insurance Co., and Qatar Islamic Bank. All are state-controlled companies. The rest is held by 252 founding shareholders.

Under a QR274m ($75.3m) order made on Sept. 26, 2000, Q-Ship in late 2002 received one of two 37,000 dwt tankers from Shina Shipbuilding Co. of South Korea. It received the second ship in early 2003. It received a third 37,000 dwt vessel from the same firm later in 2003. It has since bought FMX oil tankers, each exceeding 100,000 dwt. The vessels transport jet fuel, diesel, kerosine and petrochemicals, mainly for QP.

Qatar Mobil Tanker Co., a JV of Q-Ship and ExxonMobil set up in December 1999, owns two Aframax crude oil tankers servicing orders placed by QP.

Under two 10-year contracts, Halul Offshore Services Co. (HOSC), a 50-50 JV of Q-Ship and QNNTC, has provided QP with three standby safety vessels since early 2002 and four anchor handling and tug supply vessels since mid-2002.

Qatar Gas Transport Co. (Nakilat), established in June 2004, is becoming the world's biggest carrier of LNG. Parts of its fleet of almost 100 tankers of various sizes are being leased to several LNG ventures emanating from each of the QatarGas and RasGas sets of projects (see Gas Market Trends of this week - gmt11QatrGasExpSep12-11).
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Publication:APS Review Oil Market Trends
Date:Sep 12, 2011
Words:384
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