LNG

Malaysia’s Petronas has signed 20‑year time charter agreements with MISC Group for five newbuild LNG carriers, with deliveries due to begin in 2029 and continue into 2030.

Malaysian energy giant MISC Berhad, part of the Petronas empire, has reported that group revenue for the second quarter of this year was RM3,212.3 mill.

MISC Berhad, the Malaysian shipping line, has taken its liquefied natural gas fleet to 30 vessels by acquiring two older ships from Italy’s energy company Eni and chartering them back to the Italians in a deal with the potential for the carriers to be future conversions for floating LNG projects.

Malaysian energy company Petronas has started commercial gas-up and cool-down services for the global LNG carrier fleet from its liquefaction plant at Bintulu port in Sarawak in competition to other ports such as Singapore.

MISC Bhd has reported that its net profit for the second quarter of 2018 declined 42.28% year-on-year to RM321.2 mill from RM556.5 mill recorded in 2Q17, due to lower earnings across all of its divisions.

Malaysian International Shipping Corp., whose liquefied natural gas fleet comprises 30 vessels among its 120 ships, posted lower first-quarter revenue and profits, though the outlook for the LNG sector was viewed by the company as positive.

Malaysian International Shipping Corp., whose LNG fleet comprises almost 30 vessels, has taken delivery of an additional ship and newbuild, the “Seri Cemara”, the fifth in a series of five vessels with Moss-type storage tanks as the company makes advances in revenues and assets in cooperation with state energy company Petronas.

AET Inc., the petroleum logistics unit of Malaysian International Shipping Corp. with an operational fleet of 94 vessels, has signed a charter deal with Shell International Trading and Shipping Co. for the long-term charter of AET's two newbuild LNG dual-fuelled Aframax tankers.

April 9 (LNGJ) - The 138,000 cubic metres capacity carrier “British Merchant”, operated by BP Shipping, will deliver a cargo on April 10 to the Dominican Republic import terminal in the Caribbean, owned by AES, from the Atlantic LNG plant at Point Fortin in Trinidad, according to shipping data. The 145,000 cubic metres capacity carrier “Methane Rita Andrea”, operated by GasLog, is scheduled to unload a cargo on April 11 at the Altamira import terminal on the Gulf Coast of Mexico from the Nigeria LNG plant at Bonny Island. The 147,200 cubic metres capacity vessel “Arctic Princess” will deliver a cargo on April 14 to the Lithuanian import facility at the Baltic port of Klaipeda from the Hammerfest plant in Norway, operated by Statoil. The 145,000 cubic metres capacity “Seri Angkasa”, owned by Malaysia International Shipping Corp., will unload a Nigerian cargo on April 15 at the Dabhol import terminal in India. The 155,000 cubic metres capacity vessel “British Sapphire” will unload a shipment on April 22 at the Indian Dahej terminal from the Trinidad export plant.

Feb 28 (LNGJ) - Malaysian International Shipping Corp. has taken delivery of the LNG carrier “Seri Camar”, the fourth in a series of five vessels with Moss-type storage tanks. The 150,200 cubic metres capacity carrier was built at Hyundai Heavy Industries in South Korea and benefits from an Integrated Hull Structure (IHS) with four spherical tanks shielded by a continuous cover, fortifying the vessel to allow for operation in even the harshest marine environments. Owned by MISC and chartered to state energy company Petronas, the Malaysian-flagged vessel was delivered at a naming ceremony held at the HHI yard in the Korean port of Ulsan. “We’re proud to celebrate our 50th anniversary this year, growing from strength to strength to become one of the leading global providers of energy related maritime solutions and services,” said MISC President and Chief Executive Yee Yang Chien.