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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

SBI Wins Jack-up Design and Engineering Contract

SBI Offshore Limited, which is pursuing higher-value oil and gas engineering projects, said today it has secured a $24 million contract to provide design and engineering

Reflex Marine, Fano Kran Partner

Reflex Marine continues to expand its global network of Accredited Service Centers with its latest addition, Fano Kran-Service A/S (Fano Kran) located in Denmark.

OceanSaver Reports Surge in BWT Orders

OceanSaver said it has received a rush of ballast water treatment (BWT) system orders for large vessels. The Norwegian firm, a BWT specialist developing solutions since 2003,

Offshore

First Oil in Salamander FSO at Bualuang Field

Salamander announces that first oil has been received in the tanks of the newly converted Suksan Salamander Floating Storage and Offtake Vessel (“FSO”) at the

Delivery & Naming of Atlantic Offshore´s ERRV – Ocean Marlin

On August, 13th the delivery and naming ceremony of our last construction, the ERRV C722- Ocean Marlin - for Atlantic Offshore was performed. The event was held in the Norwegian town of Stavanger,

BOEM to Open Bids for Gulf of Mexico Lease Sale

The Bureau of Ocean Energy Management (BOEM) Gulf of Mexico Regional Director John Rodi will open the Gulf of Mexico Western Planning Area Lease Sale 238 at 9 a.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1098 sec (9 req/sec)