Misc Berhad News

11 Feb 2020

MISC Clinches Petrobras Contract

Image: MISC Group

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…

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

Image: MISC

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…

08 Dec 2019

AET Wins $245Mln Charter Deal with Shell

Image: AET Tanker Holdings Sdn. Bhd.

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…

13 Oct 2019

SHI Wins Two LNGCs Orders from MISC

Pic: Samsung Heavy Industries(SHI)

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…

10 Oct 2019

MISC Secures ExxonMobil LNG Tanker Contract

Photo: MISC

MISC Berhad (MISC) through its wholly-owned subsidiaries have secured agreements with Exxon Mobil Corporation’s wholly-owned subsidiary, SeaRiver Maritime LLC (SeaRiver) for the time charter contracts of two Liquefied Natural Gas (LNG) carriers.Each of the LNG carriers will respectively serve the transportation needs of ExxonMobil’s worldwide LNG portfolio on a 15-year charter contract.Prior to this, MISC, through the same subsidiaries have also signed an agreement with Samsung Heavy Industries Co., Ltd. (SHI) for the construction of the LNG carriers in Korea.

24 Sep 2019

MISC, NYK and Mitsubishi Partner for the LNG Canada Project

Logo: MISC

MISC Berhad (MISC) through its subsidiary have signed an agreement with Mitsubishi Corporation and Nippon Yusen Kabushiki Kaisha (NYK) to co-own two newbuild LNG vessels mainly for the LNG Canada project.Both LNG carriers have a capacity of 174,000 cubic meters (cbm) and are currently being built by Hyundai Samho Heavy Industries (HSHI). These vessels will feature state-of-the-art technologies including modern XDF propulsion and partial re-liquefaction facility for higher efficiencies…

12 Sep 2019

LNGC Containment Market to Reach $16Bln By 2025

Image: Teekay LNG Partners

The global liquefied natural gas (LNG) carrier containment market was USD 11.21 billion in 2018 and is expected to reach around USD15.56 billion by 2025, growing at a CAGR of 4.9% between 2019 and 2025.The LNG carrier containment market is majorly driven by the rising demand for natural gas from various industries and LNG’s growing number of residential and commercial applications, said a report by Zion Market Research.Furthermore, LNG has witnessed an exponential increase in its demand as an automobile fuel in recent past…

11 Dec 2018

AET Grows in Brazil

Eagle Paraiba. Photo: AET_Tankers

With the ongoing development of deepwater pre-salt plays and a decreased demand on local content in tankers and other vessels, Brazilian national operator Petrobras and other super-majors have been looking abroad for better rates and reliable operators of shuttle tankers. Claudio Paschoa, Maritime Reporter’s correspondent in Brazil spoke to Peter Liew, Global Director – Mid Size Tankers, Crude Shipping, about AET Tankers’ history and its operations in Brazil.AET (formerly American Eagle Tankers) was founded in Houston in 1994 primarily to conduct lightering operations in the Gulf of Mexico.

31 Oct 2018

MISC Wins FSO Charter Contract in Vietnam

Image: MISC

Malaysian shipping group MISC Berhad (MISC) has received a time charter contract from Idemitsu Kosan (IKC) for the provision of a floating, storage and offloading (FSO) vessel in Vietnam.The energy-related maritime solutions and services provider said in a press release that the contract that it received through its 51%-owned joint-venture with PetroVietnam Technical Services Corporation (PTSC) i.e. Malaysia Vietnam Offshore Terminal (L) Limited (MVOT), represents the expansion…

20 Aug 2018

AET and Shell Sign DPST Contract

Image: AET Tankers Pte Ltd

Shuttle tanker owner AET, a wholly-owned subsidiary of  Malaysia's MISC Group, has won its first contract with Shell in Brazil to time charter one new-build dynamic positioning shuttle tanker (DPST).AET earlier this year sealed a long-term charter for two newbuild LNG-fuelled Aframax tankers with Shell that is set to begin in the fourth quarter of this year.AET President & CEO Capt. Rajalingam Subramaniam said: “Shell has chosen to use our shipping services for many years and…

08 Jul 2018

MISC Bags USD 441mln 16-year Charter Contract from Hess

Photo: MISC Berhad

Malayasia-based MISC Berhad  has secured a long-term charter contract from Hess Exploration and Production Malaysia  for the lease of a floating, storage and offloading facility (FSO) known as FSO Mekar Bergading on a bareboat basis. The long-term charter contract is pursuant to a sale and charter agreement between MISC and HESS in respect of the FSO, which also resulted in MISC acquiring ownership of the FSO. The investment is consistent with the MISC2020 strategy of which one…

22 May 2018

Benchamas FSO: InterMoor Completes Work

(Photo: InterMoor)

InterMoor has completed work for the installation of the new Floating Storage and Offloading (FSO) facility Benchamas 2 (FSO Benchamas 2). Previously, the Benchamas Explorer FSO, owned and operated by Chevron, was installed in 1999 in Block B8/32 in the Gulf of Thailand. The FSO began initial production in 1999 and after operating the facility for almost 20 years, Chevron decided to replace the aging facility with the new FSO Benchamas 2. The new floating facility FSO Benchamas 2 was delivered by MISC Berhad…

01 May 2018

MISC awards BV contract for Veristar AIM3D

Matthieu de Tugny, COO, Bureau Veritas Marine & Offshore. Photo BV

Bureau Veritas (BV) has been awarded a contract by MISC Berhad (MISC) to deploy and support the VeristarAIM3D ‘software as a solution’ system to provide asset integrity services on selected MISC FPS systems:the Floating Storage & Offloading (FSO) vessel -FSO Benchama 2and the Floating Production, Storage & Offloading (FPSO) vessels - MaMPU1 and FPSO Cendor. Veristar AIM3D is BV’s sophisticated, full life-cycle Asset Integrity Management System, developed in partnership with Dassault Systèmes.

12 Mar 2018

MISC Berhad Names FSO Benchamas 2

FSO Benchamas 2 (Photo: MISC Berhad)

MISC Berhad held the naming and delivery ceremony of its new Floating, Storage & Offloading (FSO) facility for Chevron Offshore (Thailand) Limited (COTL), the FSO Benchamas 2. The project marks MISC’s maiden foray into Thailand’s offshore oil and gas sector as well as its first partnership with COTL in the offshore space. The contract for the lease and operations FSO was secured through an international competitive bidding process and was signed between MISC Offshore Floating Terminals (L) Limited (MOFT) and COTL in August 2016.

26 Jan 2018

AET Adds Four Newly Built Tankers

Photo: AET Tankers Pte Ltd

Singapore-headquartered vessel owner AET Tankers - a subsidiary of Malaysia's MISC Berhad - has named and welcomed four newbuild tankers into its fleet in two separate ceremonies at South Korean shipyards. At Samsung Heavy Industries, Geoje, South Korea on Wednesday, 24 January, AET named two 113,400 dwt Aframax tankers “Eagle Barcelona” and “Eagle Brisbane”. Two 157,512 dwt Suezmax twins, “Eagle San Francisco” and “Eagle San Jose”, were named two days later on Friday, 26 January, at the Hyundai Heavy Industries shipyard in Ulsan, South Korea.

09 Aug 2017

MISC Q2 Net Profit Down 59%

LNG Vessel - Seri Camellia. Photo: MISC Berhad

Malaysian shipping line MISC Berhad has recorded a 58.7% drop in its earnings for the second quarter of this year compared to the previous corresponding quarter. The company announced a net profit of RM 556.5mln in its quarter ending June 30, 2017, compared to RM 1.34bln in the last corresponding quarter. The decrease in profit was in part owing to an impairment loss on ships, property, plant and equipment of RM 133.6mln. Group revenue for the quarter ended 30 June 2017 of RM 2.303 bln was 3.8% lower than the corresponding quarter’s revenue.

27 Jul 2017

Moss-Type LNG Carrier Joins MISC Berhad's Fleet

(L)The Naming and Delivery Ceremony of Seri Cempaka at the HHI Shipyard in Ulsan, South Korea. (R) The Lady Sponsor, Y. Bhg. Datin Teo Yin Hui Officiating the Naming Ceremony of Seri Cempaka. Photos: MISC Berhad

Malaysia’s MISC Berhad (MISC), a world leading energy related maritime solutions and services provider has taken delivery of Seri Cempaka, the third in a series of five Moss-Type Seri-C Class Liquefied Natural Gas (LNG) carriers. The 150,200 CBM LNG carrier has been built for MISC by Hyundai Heavy Industries (HHI), 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.

22 Jun 2017

Statoil, AET Expand Shuttle Tankers Contract

The shuttle tanker Eagle Barents currently on charter for Statoil from AET. (Photo: Statoil)

Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad, to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter. These new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil. These new vessels are in addition to the two AET DP2 ships currently on charter in the same area for Statoil.

08 Jun 2017

AET Tankers Unveils Names of LR2 Duo

Photo: AET Tankers Pte Ltd

AET has unveiled its two new long-range (LR2) petroleum tankers from Hyundai Heavy Industries (HHI) at HHI’s Gunsan Shipyard, Korea, on Thursday, 8 June 2017. The Singapore flagged 114,000dwt Eagle Lyon and French-flagged Eagle Le Havre, are owned by AET, and have been taken on long-term charter by French oil major TOTAL. The sister vessels were ceremonialised at a naming ceremony in Gunsan, which was graced by Yee Yang Chien, AET Chairman and President/Group CEO of MISC Berhad, and Capt.

11 Apr 2017

MISC Signs up Entire LNG Fleet for ECDIS Training

Photo: MISC Berhad

MISC Berhad has chosen eMaritime Group's ACAT online courses as its ECDIS type specific continuous personal development training solution. The agreement has enabled MISC to sign up its entire fleet of liquefied natural gas (LNG) carriers while being able to effortlessly monitor all students progress themselves via an online portal on the three different systems throughout their fleet; namely JRC 901, JRC 9201 and FURUNO FEA. ECDIS Annual Competency Assurance Training (Or ACAT)…

20 Jan 2017

MISC Berhad Names New LNG Carrier Seri Cenderawasih

Official Seri Cenderawasih Photo MISC

MISC Berhad today held the naming and delivery ceremony for its new LNG carrier, Seri Cenderawasih. The 150,200 CBM liquefied natural gas (LNG) carrier is the second in a series of five MOSS-Type LNG carriers ordered from Hyundai Heavy Industries Co., Ltd. (HHI”) by MISC. Upon their delivery, these new LNG Carriers will be on a long-term charter to PETRONAS. The naming ceremony was graced by the presence of Encik Md Arif Mahmood, Executive Vice President & Chief Executive Officer…

30 Dec 2016

Great Ships of 2016: Seri Camellia

(Photo: MISC Berhad)

Since it started publishing in 1939, Maritime Reporter & Engineering News has recognized excellence in ship construction. Seri Camellia is the first in a series of five 150,200 cu. m. Liquefied Natural Gas (LNG) MOSS-Type LNG carriesr built for MISC Berhad (MISC), ordered from Hyundai Heavy Industries Co., Ltd. (HHI). Upon delivery, these new LNG Carriers will be chartered to PETRONAS for the next 15 years. It is a historic occasion for MISC as Seri Camellia will be part of the new generation of the Seri C Class LNG fleet…

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News