MISC Secures Long-term LNG Carrier Charter Contract From Malaysia LNG

KUALA LUMPUR, July 31 (Bernama) -- MISC Bhd has been awarded a contract from Malaysia LNG Sdn Bhd (MLNG), the operator of Petronas liquefied natural gas (LNG) Complex in Bintulu, Sarawak, for a long-term charter of a newbuild 18,700 cubic metres (cbm) LNG carrier (LNGC).

In a filing with Bursa Malaysia today, the global leader in energy-related maritime solutions and services said the letter of award sets out the principal terms and conditions that would form the basis of the definitive time charter party for the LNG carrier.

MISC had entered into a shipbuilding contract on July 30, 2026, with Hudong-Zhonghua Shipbuilding (Group) Co Ltd, the largest shipbuilding enterprise under China State Shipbuilding Corporation Ltd, for the construction of the newbuild 18,700 cbm LNG carrier.

"The project will be for a firm charter period of 10 years, with commencement expected in 2028. 

"MISC, through its subsidiary, will provide the LNG shipping services to MLNG, it said. 

The project would support Petronas' continued LNG supply to Sendai City, Japan, reinforcing a long-standing partnership of nearly 30 years and ensuring the reliable delivery of LNG to meet the customer's long-term energy needs, the filing said.

It would also support MISC's LNG carrier fleet rejuvenation programme through the deployment of a modern, fuel-efficient vessel, enhancing operational efficiency while reducing greenhouse gas emissions and overall emissions intensity.

The filing said the project will not affect the share capital and shareholding structure of MISC’s substantial shareholders.

It is also not expected to have any material impact on the group’s financial position, including its earnings per share, gearing, and net assets per share for the financial year ending Dec 31, 2026.

The project is not subject to MISC shareholders’ approval or any governmental authorities, it added. 

-- BERNAMA