MISC Orders Tankers

MISC Bhd has placed an order to build as many as four tankers, reports said. The contract value for the four 38,000 dwt carriers is estimated collectively to be in the region of $200m. Business Times reported that MISC had commissioned STX Shipbuilding Co., to build the petrochemical carriers. The contract was signed in Kuala Lumpur some two weeks ago between MISC and STX. Under the terms of the agreement, MISC will start receiving the tankers by as early as 2009. MISC, which has contracts with parent Petronas to carry the state-owned company's oil and gas exports, registered net sales of RM10.76 billion, together with net income of RM2.94 billion for the financial year ended March 2006. Source: Business times