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Thursday, March 28, 2024
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Misc Berhad News

28 Feb 2024

ABL on Tow Job for Mero 3 FPSO’s Voyage to Brazil

(Credit: ABL Group)

Energy and marine consultancy ABL Group has secured a contract by POSH Projects to act as tow master to support and supervise the towage of the Mero 3 FPSO from Yantai in China to Brazilian waters.As part of its scope of work, ABL’s operations in Singapore will provide a tow master to act as client representative throughout the 12,108 nautical mile towage.The tow master will supervise and ensure that all marine operations for the sail away from Yantai CIMC Raffles Shipyard are carried out in-line with approved recommendations and procedural documentation.

22 Sep 2023

Petronas, MISC, MOL Looking to Create LCO2 Carrier Joint Venture

Illustration - Mitsui O.S.K Lines in June received in-principle approvals for a liquefied CO2 vessel and a floating storage and offloading unit (FSO) from the American Bureau of Shipping. - CG rendering shows offloading CO2 from LCO2 carrier to LCO2 FSO and injection unit. - ©Mitsui OSK

Petronas CCS Ventures, a subsidiary of the Malaysian oil and gas giant Petronas has signed a term sheet with Mitsui O.S.K Lines, Ltd. (MOL) and MISC Berhad for the potential incorporation of a joint venture entity to invest in developing and monetising Liquefied Carbon Dioxide (LCO2) carriers for Carbon Capture and Storage (CCS) projects in Malaysia. The parties have agreed in principle on the key commercial terms to allow progress to the next stage."Building on the February 2022…

19 Sep 2023

MISC Sells LNG Carriers to Japanese Owner

MISC was represented by Mr Hazrin Hasan, MISC’s Vice President Gas Assets & Solutions (3rd from left) and Ms. Meei Wong, Head of Transformation (4th from left), with Nissen Kaiun represented by Captain Katsuya Abe, President of Nissen Kaiun (2nd from left). Witnessing this momentous occasion was Mr Yuichiro Nishikawa, General Manager, Mitsui & Co Ltd (1st from left). Photo courtesy MISC

MISC Berhad (MISC) entered into an agreement with Japanese ship owner, Nissen Kaiun Co., Ltd. (Nissen Kaiun) for the sale and charter of two of its existing LNG carriers.MISC will transfer ownership of the LNG carriers to Nissen Kaiun, and simultaneously enter into a charter agreement with Eaglestar and Synergy Marine as the shipmanagers.The first of the two vessels is expected to be delivered to Nissen Kaiun in the fourth quarter of 2023.

12 May 2023

Osman Named President, CEO at AET

Zahid Osman has been appointed as the President & CEO at AET, succeeding Capt. Rajalingam Subramaniam. Photo courtesy MISC Berhad

MISC Berhad announced the change of President & CEO and Chairman of AET effective June 1, 2023. Zahid Osman has been appointed as the President & CEO, succeeding Capt. Rajalingam Subramaniam. The current Chairman, Datuk Yee Yang Chien will step down as of 31st May 2023, and Capt. Rajalingam will take over as the Chairman of AET on June 1, 2023.Currently, Osman is the Vice President of Corporate Planning at MISC. Osman joined the organization in 2017 as Vice President of Gas Assets and Solutions prior to his current role. He possesses more than 20 years of experience in the energy industry.

31 Jan 2023

Samsung Heavy Delivers LNG Pair for MISC

With the addition of Seri Damai and Seri Daya, MISC now has 31 LNG carriers in its GAS Business, in addition to six Very Large Ethane Carriers (VLECs) and two LNG Floating Storage Units (FSUs), which has a combined deadweight tonnage (dwt) capacity of over two million tons. Image courtesy MISC

Seri Damai, Seri Daya join MISC LNG Carrier FleetMISC welcomed two of its latest new generation of Liquefied Natural Gas (LNG) carriers, Seri Damai and Seri Daya to its fleet of LNG carriers. These 174,000 CBM LNG carriers were built for MISC by Samsung Heavy Industries Co., Ltd. (SHI), and upon their delivery, the new LNG carriers will be on long-term charters to ExxonMobil’s wholly-owned subsidiary, SeaRiver Maritime LLC (SRM) and will be managed by Eaglestar Shipmanagenent (S) Pte.Ltd.“The delivery of Seri Damai and Seri Daya today…

03 Nov 2022

MISC, Partners Secure Five Newbuild LNG Carriers

VLEC Seri Elbert. Photo courtesy MISC Berhad

MISC Berhad (MISC), through its wholly-owned subsidiary, Portovenere and Lerici (Labuan) Pte Ltd (PLL), together with its consortium partners, Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha, Ltd. (K-Line) and China LNG Shipping (Holdings) Limited (CLNG), have been awarded long-term time charter contracts by QatarEnergy for five additional newbuild Liquefied Natural Gas (LNG) carriers to be built by Hudong-Zhonghua Shipbuilding (Group) Co., Ltd.Together with the seven long-term time-charter contracts that were secured earlier in August…

10 Aug 2022

NYK Concludes Long-Term Time-Charter for Seven New LNG Carriers

NYK said that the joint-venture companies (Comprising NYK, “K” Line, MISC Berhad, and China LNG Shipping (Holdings) Limited) that NYK is a part of have signed a long-term time-charter contract with QatarEnergy, the state energy company of Qatar, for seven liquefied natural gas (LNG) carriers. The joint-venture companies have also executed shipbuilding contracts for the seven 174,000 m3 LNG carriers with Hyundai Heavy Industries Co., Ltd.These ships will be equipped with an X-DF 2.1 iCER and air lubrication system, both of which will contribute to a reduction of GHG emissions and an improved environmental impact.LNG Carrier Main ParticularsLength, oa: approx.

03 Jun 2022

MISC Makes Leadership Change

Captain Rajalingam Suramaniam. Photo courtesy MISC

MISC Group’s President/Group Chief Executive Officer (CEO), YBhg. Datuk Yee Yang Chien announced his plan to retire effective September 30, 2022. Datuk Yee will turn the helm over to Captain Rajalingam Subramaniam, MISC’s Chief Operating Officer and AET’s President & CEO, who will assume the role of MISC Group’s President/Group CEO effective October 1, 2022.Datuk Yee said, “It has been a great honour for me to be given the responsibility to lead MISC Group back in 2015. It is more than a job or duty for me…

24 Feb 2022

AET Names Dual-fuel VLCC Eagle Valence

Eagle Valence (Photo: AET)

Tanker operator AET announced it has named its new dual-fuel very large crude carrier (VLCC) Eagle Valence.Named during a virtual ceremony at Samsung Heavy Industries (SHI) in Geoje, South Korea, the 300,000 dwt newbuild is the first of two liquefied natural gas (LNG) dual-fuel VLCCs being built for long-term charter to Chartering and Shipping Services SA, a wholly owned subsidiary of TotalEnergies SA, based on an agreement signed in April 2020.Eagle Valence’s sister vessel is currently under construction at SHI and is due to be delivered in the second quarter of this year.Capt.

06 Apr 2021

MISC Takes Delivery of VLEC Seri Elbert

Photo: MISC Berhad (MISC)

MISC Berhad (MISC) has taken delivery of its sixth Very Large Ethane Carrier (VLEC) – Seri Elbert, from Hyundai Heavy Industries (HHI) shipyard in Ulsan, South Korea. Seri Elbert and her sister vessels - Seri Everest, Seri Erlang, Seri Emei, Seri Emory and Seri Emperor are a series of second generation VLECs – all of which were acquired by MISC from Zhejiang Satellite Petrochemical Co. Ltd. (STL) in July 2020.See related story on Seri Everest, one of Maritime Reporter & Engineeering News' Great Ships of 2020Mr.

19 Mar 2021

Siemens Energy to Deliver Topside Modules for MISC-built FPSO

Credit: Siemens Energy

Siemens Energy said Friday it had won a contract with Malaysian MISC to deliver eight complete topside modules for an FPSO MISC is building for deployment in South America.According to Siemens Energy, its topside modules "will provide sustainable, efficient, and environmentally friendly power generation, transmission, and distribution, as well as gas processing and compression" aboard an FPSO that will operate offshore South America starting in 2024.Siemens Energy’s scope of supply includes the EPC work for all eight modules and other important components: two electric…

23 Dec 2020

SBM Offshore, Shell Extend Brazil FPSO Term. SBM in Talks with Exxon Over Guyana Extensions

Espirito Santo FPSO/ ©SBM Offshore

Oil giant Shell has extended the contract for the lease of SBM Offshore's Espirito Santo FPSO in Brazil. SBM Offshore is also in talks with ExxonMobil to extend the FPSO terms in Guyana.The Dutch FPSO operator said Wednesday that the lease and operation contracts with Shell of the FPSO Espirito Santo would be extended for five years.This means that the end of the contractual lease and operation period was extended from December 2023 to December 2028.SBM Offshore is the majority owner of the lease and operating companies related to FPSO Espirito Santo with 51% equity ownership…

17 Dec 2020

Great Ships of 2020: Seri Everest, World’s Largest Ethane Carrier

Photo Courtesy MISC Berhad

Seri Everest, the first in a series of three 98,000 cbm Very Large Ethane Carriers (VLECs) built at Samsung Heavy Industries Co., Ltd. (SHI) and delivered to MISC Berhad on October 30, 2020. Seri Everest is the first from a series of six VLECs that MISC purchased in July 2020. As a second generation VLEC, Seri Everest is one of the largest vessels of its kind in the world.With the delivery of MISC’s first VLEC – Seri Everest, she has set a new benchmark in the ethane market. Seri Everest has the capacity of transporting ethane in large volumes over long distances…

04 Dec 2020

Vietnam: FSO Golden Star Receives First Condensate

FSO Golden Star - Credit: MISC

Malaysia Vietnam Offshore Terminal's FSO Golden Star has received the first condensate at the Sao Vang and Dai Nguyet (SVDN) Project offshore Vietnam.MVOT is a 51% MISC Berhad (MISC) owned joint venture with PetroVietnam Technical Services Corporation (PTSC). The condensate delivery milestone was achieved on November 16, 2020, MISC said Friday. FSO Golden Star with a storage capacity of about 700,000 barrels of condensate was converted and sailed away from Malaysia Marine and Heavy Engineering’s West Yard on September 10…

17 Nov 2020

World's Largest Ethane Carrier Delivered

(Photo: MISC Berhad)

MISC Berhad (MISC) has taken delivery of the world's largest very large ethane carrier (VLEC) at the Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea.The newbuild 98,000 cubic meter capacity Seri Everest, MISC's first VLEC, is the lead vessel in a series of six that the shipowner purchased from Zhejiang Satellite Petrochemical (STL) in July 2020. Concurrently, MISC had also entered into time charter parties (TCPs) with STL, for the six VLECs to operate in international waters.

25 Sep 2020

Samsung's Ammonia-fueled Tanker Design Gets LR AIP

© tempakul / Adobe Stock

An ammonia-fueled tanker design developed by South Korean shipbuilder Samsung Heavy Industries (SHI) has received approval in principle (AIP) from classification society Lloyd’s Register (LR).The project to develop the novel, emissions-slashing aframax tanker was announced in January as maritime stakeholders consider cleaner-burning ammonia and other zero-carbon options to meet the International Maritime Organization’s (IMO) target to halve shipping’s greenhouse gas (GHG) emissions from 2008 levels by 2050.Together…

07 Apr 2020

Total Charters LNG Dual-fuel VLCCs

(Photo: AET)

Malaysian shipowner AET said it signed a deal with Total's Chartering and Shipping Services SA for the time charter of two liquefied natural gas (LNG) dual-fuel very large crude carriers (VLCC). The two newbuilds, which are able to carry about 300,000 tons of crude oil each, are scheduled to be delivered to AET from the first quarter of 2022.The two newbuilds will be powered by LNG and will be among the most environmentally friendly VLCCs in the market. When in service, they will emit around 20% less CO2 greenhouse gases than conventional vessels; 85% less NOx and 99% less SOx.

25 Mar 2020

Wärtsilä Testing Ammonia as a Marine Fuel

Wärtsilä is testing ammonia as a viable fuel for shipping and energy sector applications (Photo: Wärtsilä)

As marine operators and euipment manufacturers continue to explore alternative marine fuels as a means to help lower vessel emissions, technology group Wärtsilä said it has initiated combustion trials using ammonia.As part of the tests, ammonia was injected into a combustion research unit to better understand its properties. Based on initial results, the tests will be continued on both dual-fuel and spark-ignited gas engines. These will be followed by field tests in collaboration with ship owners from 2022…

11 Feb 2020

MISC Clinches Petrobras Contract

Malaysia International Shipping Corporation Berhad (MISC) announced that its wholly-owned subsidiary, AET Tanker Holdings Sdn Bhd, has been awarded long-term charter contracts for three newbuilding Suezmax DP2 Shuttle Tankers from Petróleo Brasileiro S.A. – Petrobras of Rio de Janeiro, Brazil.AET, the petroleum shipping unit of MISC and specializes in the global ocean transport of petroleum, will own and operate the newbuilding Suezmax DP2 Shuttle Tankers for operations in Brazilian and international waters.The estimated contract value is USD525.6million and the charter is expected to commence in 2022, said a release.The new long-term…

15 Jan 2020

Partners Developing Ammonia-fueled Tanker

(Photo: LR)

Maritime industry partners striving to advance shipping's decarbonization efforts are working to develop an ammonia-fueled tanker, classification society Lloyd's Register (LR) announced.The joint development project (JDP) involving LR and shipping line MISC Berhad, builder Samsung Heavy Industries (SHI) and engine maker MAN Energy Solutions aims to develop commercially viable deep-sea zero-emissions vessels (ZEVs) that would be operational by 2030, ahead of the International Maritime Organization’s 2050 greenhouse gas (GHG) emissions target.Nick Brown…

06 Jan 2020

MISC Wins $245M Contract in Brazil

Malaysia International Shipping Corporation Berhad (MISC) said that its unit  AET Tanker Holdings Sdn Bhd has secured long term contracts for three Suezmax class Dynamic Positioning Shuttle Tankers (DPST) by Brazil Shipping I Ltd for RM1.01 billion (US$245 million).AET will own and operate these newbuilding Suezmax Class DPSTs for operations in international and Brazilian waters. The charter is expected to commence in 2022.According to a press note from the international shipping line of Malaysia, these long-term time charter contracts will further reinforce AETs position as one of the global market leaders in the niche DPST market in addition to fortifying its position as amongst the world’s leading international petroleum shipping solutions providers.Yee Yang Chien…

08 Dec 2019

AET Wins $245Mln Charter Deal with Shell

Petroleum and chemical tanker owner AET Tanker Holdings has been awarded three long-term time charter contracts by Brazil Shipping I Limited, a Shell group entity.The subsidiary of Malaysia’s maritime solutions and services provider MISC Berhad said in a press release that Under the terms of the deal it will own and operate the related newbuilding Suezmax Class Dynamic Positioning (DP) shuttle tankers for operations in international and Brazilian waters.The estimated contract value is USD 245 million and the charter is expected to commence in 2022.These long-term time charter contracts will further reinforce AETs position as one of the…

13 Oct 2019

SHI Wins Two LNGCs Orders from MISC

South Korean shipbuilder Samsung Heavy Industries (SHI) announced that it had secured orders for two 174,000-cbm LNG carriers from MISC Berhad (MISC), a global provider of energy related maritime solutions and services.The 174,000 cbm LNG carriers were ordered under a KRW 485.3 billion (USD 406.2 million) deal, according to an SHI stock exchange announcement. The units are scheduled for delivery by the end of the first quarter of 2023.The LNG carriers will be used by ExxonMobil to transport its global LNG production, ti said.The vessels are fitted with a re-liquefaction system that is applied to the latest membrane cargo tank-type Mar III Flex PLUS to reduce boil-off gas and feature Selective Catalytic Reduction (SCR) and Ballast Water Treatment System (BWTS)…