Marine Link
Wednesday, September 28, 2016

MISC Reports Better 3Q

March 2, 2007

MISC Bhd reported a better third quarter on sale of ships and expects demand for oil rigs to counter weak shipping charges, reported the Business Times. The company, a subsidiary of state oil and gas firm Petroliam Nasional Bhd, also stressed that its long-term contracts to carry liquefied natural gas (LNGLF) (LNG) would help buffer earnings.

The company made a net profit of RM944.48 million for the quarter to December 31 2006, up 17.6 per cent from RM803.17 million in the previous corresponding quarter. The net profit was boosted by a gain from the sale of ships.

According to its website, MISC owns 21 container ships, 13 chemical tankers, 45 oil tankers and 23 LNG carriers. It has ordered a container ship, 11 oil tankers, eight chemical tankers and six LNG carriers. Source: Business Times



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