MISC Orders LNG Carriers

Wednesday, June 28, 2000
Malaysian International Shipping Corp. is fortifying its position in the fast growing market for the carriage of Liquefied Natural Gas (LNG), today reportedly converting an option for two liquefied natural gas ships into firm orders, bringing total oustanding orders to six. MISC is already one of the world's largest LNG tanker operators, and it also also plans to buy four 6,800-TEU, post-Panamax containerships for delivery in 2002-2003. "We have ordered four new LNG ships...and two more ships are on option...(which) should be exercised by the end of this year," a company official reported. MISC has a fleet of 13 carriers with total lifting capacity of 1.35 million cu. m. They are part of MISC's total fleet of 124 ships. The LNG sector is seen as a lucrative business, commanding a profit margin of at least 45 percent, analysts said. About 80 percent of MISC's revenue comes from the long-term charter contracts with Petronas for LNG transport. Last year, Petronas signed a preliminary agreement to supply 2.6 million tons of gas from the MLNG Tiga plant to Enron Corp's power plant project in India, which will require two LNG carriers. MISC will be transporting the LNG.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

SAAM SMIT Towage Brazil Signs on with Helm

Helm Operations has signed on Brazilian harbor services company SAAM SMIT Towage to its Helm Marine Operations software to manage its billing and dispatch.    SAAM

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

New Domestic Ferry for Faroe Islands Service

Third generation domestic ferry for service between Nólsoy and Tórshavn in the Faroe Islands.   According to the vessel's designer, this project is the second

Offshore

USCG Rescues Disabled Fishing Vessel

A fishing crew is back on land today after a fouled anchor line stranded them about 115 miles east of Gloucester, Massachusetts, Saturday. Initially, the

MacGregor Inks Deal with Grupo CBO

MacGregor, part of Cargotec, has secured a contract with the Brazilian shipowner and shipbuilder Grupo CBO. The contract is to supply Triplex deck handling equipment

NOAA’s National Saltwater Recreational Fishing Policy Opposed

Recently, NOAA Fisheries released the implementation plan to support the latest National Saltwater Recreational Fishing Policy. The policy, announced at the

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1238 sec (8 req/sec)