Milaha’s FSO vessel to be operational by this year – The Peninsula

Milaha’s FSO vessel to be operational by this year – The Peninsula

Qatar Navigation (Milaha) is in the process of converting its tanker into an Floating Storage and Operations (FSO) vessels and it is expected to become operational from this year.

“In 2021, Milaha made its first investment in Floating Storage and Operations (FSO) vessels, and we are in the process of converting our tanker, Khawr Al-Adid, into an FSO and to begin operations in 2022,” noted Abdulrahman Essa Al Mannai, President & CEO, Milaha in the Annual Report 2021.

“In order to target Qatar’s marine services market, we significantly expanded our offering across multiple marine segments and, in particular, to vessels calling Qatar’s ports. Milaha also signed an agreement with the Qatar Navy to maintain facilities at the new naval base and to mobilize new marine equipment delivery into Qatar,” he added.

All the segments of Milaha delivered strong performance during last year. In 2021 Maritime & Logistics demonstrated exceptionally strong performance. Despite COVID-19 operational challenges and supply chain disruptions that were felt worldwide, the segment posted QR1.1bn in revenue in 2021 as compared to QR861m in 2020, for an increase of 30 percent, according to the Annual Report.

The Container Shipping business performed very well in 2021, continuing to optimize its feeder network and