LNG

Nov 3 (LNGJ) - Malaysia International Shipping Corp., the owner and operator of a fleet of 114 vessels including 30 LNG carriers, said overall quarterly operating profit more than doubled to 678 million Malaysian ringgits ($160M) compared with the same three months of 2016 because of one-off charges. “In the LNG shipping front, spot charter rates remain sluggish because of the tonnage oversupply situation,” said MISC. “Spot charter rates are, however, expected to pick up as countries start building up inventories to meet the winter heating demand,” the company added. “The present portfolio of long-term charters in the Group's LNG shipping business will continue to support the financial performance of this segment,” said MISC.