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AR2020

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2020 Annual Report

Welcome to Nakilat’s Digital Annual Report

The company witnessed significant growth and development throughout 2020 in alignment with its ambition to be a global leader and provider of choice for energy transportation and maritime services. The 2020 Annual Report captures the highlights of our financial performance, corporate strategy, business operations as well as comprehensive approach towards sustainability.

Board of Directors Report

“During the past year, the world continued to face exceptional adversity in the form of the COVID-19 pandemic, one that has reshaped our view of normal and posed unprecedented challenges to the global shipping and maritime industry. The passion and strength of our people shone through these difficult times. Nakilat remained resilient in continuing to build on our operational response to the pandemic, enabling us to adapt swiftly and ensure business continuity to create value for our shareholders and customers.”

MR. ABDULAZIZ AL-MUFTAH – Chairman of the Board

Read the Full BOD Report

CEO message

2020 has been a challenging year for the entire world as we saw the beginning of the COVID-19 health crisis, which grew into a global pandemic impacting industries, economies and countries around the world. Amid the challenging business landscape, Nakilat remained steadfast in executing our strategies safely, sustaining operational efficiencies and ensuring fiscal discipline across all our shipping and maritime operations.

Eng. Abdullah Al-Sulaiti – Chief Executive Officer

Read the Full CEO Message

EXPLORE THE ANNUAL REPORT

Nakilat profoundly believes that good corporate governance creates a business environment conducive to long-term growth. Nakilat employs a variety of policies and processes to uphold high ethical standards and promote transparency. Our efforts are underpinned by a board of directors that provides strategic and independent oversight of our corporation’s affairs.

Recognizing the relationship between good governance and sound financial performance, Nakilat strives to adhere to leading governance practices and complies to Qatar Financial Markets Authority (QFMA) governance guidelines. Nakilat governance report has been prepared in compliance with QFMA governance code and its shared with all concerned stakeholders and the public on Nakilat’s website.

Our Board of Directors considers the interests of our shareholders as well as our other stakeholders. We see no contradiction between pursuing our business interests and investing into our long-term sustainability. Engagement with our shareholders through our roadshows, investor meetings and analyst calls has sharpened our focus on our core priorities, strategic vision and governance. We continue to listen to all our shareholders and other stakeholders. We see governance as a framework to align the interests of all our stakeholders behind our purpose to unlock the power of delivering clean and reliable energy to enhance quality of life for everyone around the world.

Despite the challenges brought about by COVID-19, Nakilat continued to demonstrate strong commitment to its fleet operational excellence in 2020 by ensuring full compliance to the highest standards of quality and customer centricity, delivering safe, reliable and cost-effective services.

Fleet

  • Safe completion of the 2nd Phase Fleet Management Transition involving seven LNG carriers from Shell
  • Taking delivery and technical management of a newbuild MEGI LNG carrier “Global Energy”
  • Taking over technical management and operations of the company’s first Floating Storage Regasification Unit (FSRU) vessel “Exquisite” from Excelerate Energy
  • Ensured smooth crew relief for our seafarers throughout the COVID-19 pandemic

Shipyard

Nakilat’s world-class Erhama Bin Jaber Al Jalahma Shipyard is jointly operated by Nakilat-Keppel Offshore & Marine (N-KOM) and Qatar Fabrication Company (QFAB). N-KOM provides ship repair and conversion as well as maintenance and repair of marine and offshore vessels, while QFAB offers fabrication, construction and assembly services for offshore and onshore structures.
  • Completed more than 1,000 repairs for a variety of vessels such as LNG, LPG, VLCC, tankers and small vessels to date
  • Completed more than 200 repairs for LNG carriers to date
  • Completed 23 projects for BWTS and 5 Scrubbers to date
  • Completed more than 140 offshore repairs including 88 rigs, NFB topside fabrication for Qatar Gas and boat landing fabrication for Qatar Petroleum

Marine Services

Nakilat continues to support the growth of Qatar’s maritime industry through its provision of comprehensive towage, shipping agency and logistics services via Nakilat SvitzerWijsmuller (NSW), Nakilat Agency Company (NAC) and our Vessel Support Unit (VSU).
  • NSW performed a total of 13,083 tug jobs for Ras Laffan Port
  • Appraised by Ras Laffan Port and Qatar Petroleum (QP) Marine for uninterrupted services throughout the pandemic, maintaining 99.9% up time across its fleet
  • Achieved 10 million safe man-hours hours without Lost Time Injury (LTI)
  • Surpassed 60,000 COVID-free man-days across NSW since the virus was first discovered in Qatar
  • NAC completed 15 years of operations offering 24/7 agency services up to 60,000 vessels without any service failures and lost time incidents (LTI)
  • NAC marked 1 year of global agency services in February 2020, attending to more than 1,400 port calls and cannel transits within this period
  • NAC arranged around 1,000 crew movements including medical attendance, ship to ship crew transfers and crew changes in ports of Qatar during the year
  • Around 200 vessels of various types have utilized VSU services at Ras Laffan, including Nakilat-owned, joint-venture and third-party vessels
  • VSU provided uninterrupted supply and support service from Ras Laffan during the lock down period, that ensured supply of essential items to vessels
  • VSU facilitated clearance and delivery of critical spares to Nakilat and JV vessels at Ras Laffan, an average of 120 movements per month
Nakilat and its joint ventures (JVs) are committed to Qatar National Vision 2030, which outlines the development of a sustainable future for the State of Qatar. As an organization, we conduct various safety and internal development programs to ensure the creation of a safe and reliable workforce, while our robust corporate social responsibility (CSR) framework aims to enrich the lives of local communities and preserve our natural environment. Our sustainability commitment comprises several key elements, and among our highlights this year include:

Safety Excellence

The company’s solid safety performance reflects the effort and dedication of staff both at sea and ashore. Nakilat’s prime objective is to achieve an ‘Incident and Injury Free (IIF)’ work environment and our 2020 safety results greatly complement our commitment toward being IIF.

COVID-19 PREVENTIVE MEASURES

  • Ensured smooth operations while maintaining 20% workforce in the office, in accordance with COVID-19 governmental guidelines
  • Regular employee communications on the latest COVID-19 guidelines and precautionary measures
  • Temperature screening for all employees, contractors and visitors across all our facilities (HQ, shipyard, Employee accommodation, onboard the vessels)
  • Face-to-face meetings restriction, encouraging employees to conduct virtual online meetings
  • Provision of necessary PPEs and adequate supplies of hand sanitizers are made available at all our working sites
  • Regular and thorough disinfection exercise the employees’ accommodations, workshops and all around the workplace areas
  • Employee health declaration for all employees and contractors, including pre-embarkation for all seafarers
  • Activation of special work arrangement for employees to work from home
  • Contact tracing of positive cases and isolation of suspected cases; immediate liaising with Communicable Disease Center (CDC) for conducting COVID-19 tests for all suspected cases
  • Personnel movement restriction to essential areas only at the shipyard
  • Reinforce social distancing at all times; be it queuing during meal time, boarding transportation, or whilst on the transportation
  • Mandatory installation of EHTERAZ application on all employees phones to support the country’s efforts in combating COVID-19
  • Organized a Seasonal Influenza Vaccination drive for staff at company HQ
  • Held awareness sessions for employees on mental health and coping during COVID-19
“Nakilat’s fleet maintained a COVID-free status throughout 2020, including throughout all crew changes. We continue to place the highest priority on the health & safety of our workforce, as well as protection of the environment and our assets wherever the company operates.”

Human Capital & Capability Development

Professional and personal development of our most strategically important assets, our employees, remained in sharp focus during 2020. Nakilat continued to utilize our blended learning approach despite the challenges posed by COVID-19, utilizing digital platforms to continue the delivery of our trainings virtually.

Over 4,000 hours of training content was delivered by subject matter experts from across our business during NICE sessions. Innovative new virtual Masterclasses and webinars were also conducted, catering to a wide range of business topics with external training providers both in Qatar and overseas, including Harvard Business School. A new program designed and delivered this year by Nakilat-certified coaches was the ICON coaching program, which consisted of almost 100 virtual hours of one-to-one performance coaching to 13 young Qatari Nationals, in support of their career goals and alignment with our Qatarization strategy. Over 200 courses were delivered virtually during the year, fully utilizing the platforms and technologies at our disposal to ensure continued development of our employees.

Nakilat also welcomed three additional Qatari Nationals to the rank of Officer as Deck Officers (DOOW) and Engineering Officers (EOOW) during 2020, after having successfully completed their academic studies as well as all sea-training time and competence assessments.

In 2020, we continued our focus on developing the next level of leaders in our business through our succession planning process, which culminated in an agreed succession plan for 2021 for Nakilat. Facilitated by the creation of bespoke development plans for each successor, their advancement and growth will be the key focus for 2021, principally with the launch of our extensive and comprehensive Leadership Development Program.