MISC Berhad
MISC Berhad News
MISC Signs Deals for World’s First Ammonia Dual-Fuel Oil Tankers
Malaysia’s MISC Group has entered into time charter party (TCP) and shipbuilding contracts for the development of world’s first two ammonia dual-fuel Aframax oil tankers.The TCP contract has been signed with Petronas' PETCO Trading Labuan Company (PTLCL), through MISC Group's petroleum arm AET.Using these vessels, PTLCL will be able to transport its products to customers around the world while contributing…
MISC Sells LNG Carriers to Japanese Owner
MISC Berhad (MISC) entered into an agreement with Japanese ship owner, Nissen Kaiun Co., Ltd. (Nissen Kaiun) for the sale and charter of two of its existing LNG carriers.MISC will transfer ownership of the LNG carriers to Nissen Kaiun, and simultaneously enter into a charter agreement with Eaglestar and Synergy Marine as the shipmanagers.The first of the two vessels is expected to be delivered to Nissen Kaiun in the fourth quarter of 2023.
Samsung Heavy and MISC Develop Floating CO2 Storage Unit
Samsung Heavy Industries has received basic certification for a floating CO2 storage unit (FCSU) from DNV.The FCSU, jointly developed by Samsung Heavy Industries and MISC, is 330 meters long and 64 meters wide, and has a high-pressure tank capacity that can store 100,000 cubic meters of liquefied CO2 at -50 degrees Celsius or less.The injection module mounted on the upper part of the hull secures the ability to send five million tons (MTPA) of CO2 per year to the depths of the seabed.
Osman Named President, CEO at AET
MISC Berhad announced the change of President & CEO and Chairman of AET effective June 1, 2023. Zahid Osman has been appointed as the President & CEO, succeeding Capt. Rajalingam Subramaniam. The current Chairman, Datuk Yee Yang Chien will step down as of 31st May 2023, and Capt. Rajalingam will take over as the Chairman of AET on June 1, 2023.Currently, Osman is the Vice President of Corporate Planning at MISC.
Samsung Heavy Delivers LNG Pair for MISC
Seri Damai, Seri Daya join MISC LNG Carrier FleetMISC welcomed two of its latest new generation of Liquefied Natural Gas (LNG) carriers, Seri Damai and Seri Daya to its fleet of LNG carriers. These 174,000 CBM LNG carriers were built for MISC by Samsung Heavy Industries Co., Ltd. (SHI), and upon their delivery, the new LNG carriers will be on long-term charters to ExxonMobil’s wholly-owned subsidiary…
MISC Makes Leadership Change
MISC Group’s President/Group Chief Executive Officer (CEO), YBhg. Datuk Yee Yang Chien announced his plan to retire effective September 30, 2022. Datuk Yee will turn the helm over to Captain Rajalingam Subramaniam, MISC’s Chief Operating Officer and AET’s President & CEO, who will assume the role of MISC Group’s President/Group CEO effective October 1, 2022.Datuk Yee said, “It has been a great honour for me to be given the responsibility to lead MISC Group back in 2015.
MISC Takes Delivery of VLEC Seri Elbert
MISC Berhad (MISC) has taken delivery of its sixth Very Large Ethane Carrier (VLEC) – Seri Elbert, from Hyundai Heavy Industries (HHI) shipyard in Ulsan, South Korea. Seri Elbert and her sister vessels - Seri Everest, Seri Erlang, Seri Emei, Seri Emory and Seri Emperor are a series of second generation VLECs – all of which were acquired by MISC from Zhejiang Satellite Petrochemical Co. Ltd. (STL) in July 2020.See related story on Seri Everest…
Great Ships of 2020: Seri Everest, World’s Largest Ethane Carrier
Seri Everest, the first in a series of three 98,000 cbm Very Large Ethane Carriers (VLECs) built at Samsung Heavy Industries Co., Ltd. (SHI) and delivered to MISC Berhad on October 30, 2020. Seri Everest is the first from a series of six VLECs that MISC purchased in July 2020. As a second generation VLEC, Seri Everest is one of the largest vessels of its kind in the world.With the delivery of MISC’s first VLEC – Seri Everest, she has set a new benchmark in the ethane market.
Vietnam: FSO Golden Star Receives First Condensate
Malaysia Vietnam Offshore Terminal's FSO Golden Star has received the first condensate at the Sao Vang and Dai Nguyet (SVDN) Project offshore Vietnam.MVOT is a 51% MISC Berhad (MISC) owned joint venture with PetroVietnam Technical Services Corporation (PTSC). The condensate delivery milestone was achieved on November 16, 2020, MISC said Friday. FSO Golden Star with a storage capacity of about 700,000…
World's Largest Ethane Carrier Delivered
MISC Berhad (MISC) has taken delivery of the world's largest very large ethane carrier (VLEC) at the Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea.The newbuild 98,000 cubic meter capacity Seri Everest, MISC's first VLEC, is the lead vessel in a series of six that the shipowner purchased from Zhejiang Satellite Petrochemical (STL) in July 2020. Concurrently, MISC had also entered into time charter parties (TCPs) with STL, for the six VLECs to operate in international waters.
Samsung's Ammonia-fueled Tanker Design Gets LR AIP
An ammonia-fueled tanker design developed by South Korean shipbuilder Samsung Heavy Industries (SHI) has received approval in principle (AIP) from classification society Lloyd’s Register (LR).The project to develop the novel, emissions-slashing aframax tanker was announced in January as maritime stakeholders consider cleaner-burning ammonia and other zero-carbon options to meet the International Maritime…
MISC Clinches Petrobras Contract
Malaysia International Shipping Corporation Berhad (MISC) announced that its wholly-owned subsidiary, AET Tanker Holdings Sdn Bhd, has been awarded long-term charter…
Partners Developing Ammonia-fueled Tanker
Maritime industry partners striving to advance shipping's decarbonization efforts are working to develop an ammonia-fueled tanker, classification society Lloyd's Register (LR) announced.The joint development project (JDP) involving LR and shipping line MISC Berhad, builder Samsung Heavy Industries (SHI) and engine maker MAN Energy Solutions aims to develop commercially viable deep-sea zero-emissions vessels (ZEVs) that would be operational by 2030…
MISC Wins $245M Contract in Brazil
Malaysia International Shipping Corporation Berhad (MISC) said that its unit AET Tanker Holdings Sdn Bhd has secured long term contracts for three Suezmax class…
MISC Secures ExxonMobil LNG Tanker Contract
MISC Berhad (MISC) through its wholly-owned subsidiaries have secured agreements with Exxon Mobil Corporation’s wholly-owned subsidiary, SeaRiver Maritime LLC (SeaRiver) for the time charter contracts of two Liquefied Natural Gas (LNG) carriers.Each of the LNG carriers will respectively serve the transportation needs of ExxonMobil’s worldwide LNG portfolio on a 15-year charter contract.Prior to this…
MISC, NYK and Mitsubishi Partner for the LNG Canada Project
MISC Berhad (MISC) through its subsidiary have signed an agreement with Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK) to co-own two newbuild LNG vessels mainly for the LNG Canada project.Both LNG carriers have a capacity of 174,000 cubic meters (cbm) and are currently being built by Hyundai Samho Heavy Industries (HSHI). These vessels will feature state-of-the-art technologies including…
MISC Group Q1 Financial Results
MISC has announced its financial results for the financial period ended March 31, 2019.Financial Highlights:Group revenue for the quarter ended March 31, 2019 was higher than the corresponding quarter ended March 31, 2018.Group profit before tax for the quarter ended March 31, 2019 was higher than the corresponding quarter ended March 31, 2018.Group Revenue, Operating Profit and Profit Before Tax for the Quarter Ended March 31…
MISC Wins FSO Charter Contract in Vietnam
Malaysian shipping group MISC Berhad (MISC) has received a time charter contract from Idemitsu Kosan (IKC) for the provision of a floating, storage and offloading…
MISC Berhad Names New LNG Carrier Seri Cenderawasih
MISC Berhad today held the naming and delivery ceremony for its new LNG carrier, Seri Cenderawasih. The 150,200 CBM liquefied natural gas (LNG) carrier is the second…
MISC Berhad Chooses Immarsat XpressLink for Fleet
Inmarsat wins contract with Malaysian shipping giant MISC to outfit 46 ships with XpressLink SatCom systems. The XpressLink solution from Inmarsat is a fully integrated…
