• 2018 July 9 12:21

    MISC secures long-term charter contract with HESS for the lease of FSO Mekar Bergading

    MISC Berhad (“MISC” or “the Company”) has secured a long-term charter contract from Hess Exploration and Production Malaysia B.V. (“HESS”) 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 Company said in a media release.

    The investment is consistent with the MISC2020 strategy of which one of the target is to achieve a sustainable level of secured profit by year 2020 and MISC has been exploring opportunities to diversify the profit stream contribution across all business segments, including acquisition of assets that are able to give the Company secure and sustainable income.

    Mr. Yee Yang Chien, President/Group CEO of MISC remarked that “Under the MISC2020 strategy, the game plan for Offshore Business includes pursuing acquisition opportunities in the domestic and international market. The steady oil price recovery in recent months and renewed interest in growth opportunities have led to increase of activities in the offshore segment. This makes good sense for us to take advantage of this by growing our portfolio of offshore assets through this acquisition which will support our ability to sustain profit in the long term.”

    This FSO will join MISC’s fleet of offshore floating facilities, which now comprises 7 FSOs, 6 floating production, storage and offloading (FPSO) facilities, 2 mobile offshore production units (MOPUs) and 1 semi-submersible floating production system, bringing the total to 16 assets. This will further strengthen MISC’s position as one of the leaders in the offshore segment, capable of operating in marginal and deepwater fields at various locations including Brazil, Vietnam, Thailand and Malaysia.

    The FSO Mekar Bergading, will be chartered by HESS for a period of 16 years with an estimated contract value of USD441 million.

    About MISC Berhad
    MISC Berhad (“MISC”), was incorporated in 1968 and is a world leading provider of international energy shipping and maritime solutions. The principal businesses of the Group comprise energy shipping and its related activities, owning and operating offshore floating solutions, marine repair and conversion, engineering and construction works, shipmanagement, port & terminal services as well as maritime education and training. As of 31 December 2017, MISC Group’s fleet consists of more than 120 owned and in-chartered Liquefied Natural Gas (LNG), Petroleum and Product vessels, 14 Floating Production Systems (FPS) as well as 2 LNG Floating Storage Units (FSUs). The fleet has a combined deadweight tonnage (dwt) capacity of approximately 16 million tonnes. MISC Berhad's workforce exceeds 10,000 employees around the world.




2018 September 26

10:30 Brent Crude futures price down 0.12% to $81.16, Light Sweet Crude – down 0.19% to $72.14
10:08 IMO will not delay sulphur 2020 limit
09:51 Port of Riga positioned as an attractive destination for world's major cruise companies
09:39 Arctic Environment Ministers' meeting: Exploring common solutions for the Arctic environment
09:20 Bunker prices continue surging at the Port of Saint-Petersburg, Russia (graph)
09:08 Hansa Heavy Lift moves fully assembled Liebherr cranes from Ireland to the UK
08:07 Jumbo awarded transportation & installation contract in Sergipe, Brazil
07:34 Total increases its share in the Danish Underground Consortium

2018 September 25

18:37 Colombo Dockyard achieves recognition at the Presidential Export Award
18:10 Tersan Shipyard (Turkey) lays down lead crab catching and processing ship of Project ST184 for Arktikservis
17:56 CMA CGM announces GRR from Asia to South Africa
17:36 The Ocean Cleanup chooses Iridium as provider of satellite communications services
17:20 First RITM-200 reactor intended for nuclear-powered icebreaker Ural left for Baltiysky Zavod shipyard
17:06 ABP opens up Humber International Enterprise Park development plans to public
16:57 Shippers suspect sulphur stitch-up
16:29 Kotug Smit Towage performs naming ceremony for tug Southampton
16:20 Portugal joins WISTA International
15:38 Volga Shipping Company named the best in terms of transport security
15:12 Mr. Birkir Hólm Guðnason hired as CEO of Samskip Iceland
14:11 CMA CGM to review sales policy regarding Low Sulphur IMO 2020 Regulation
13:49 NIBULON successfully completed its passenger transportation season
13:11 North Carolina Ports’ terminals resume full commercial operations following hurricane Florence
12:50 Fuel oil prices are going up in the Far East ports of Russia (graph)
12:31 Havila Kystruten selects Havyard to deliver the ship design and extensive equipment package for four new vessels
12:14 European ports welcome Parliament’s explicit support to remove the tax barriers for shore-side electricity for ships
12:01 Long Beach Commission OKs budget for expanded rail yard
11:43 DHT Holdings announces $50 mln scrubber financing
11:32 Nevsky Shipyard takes part in «Marintec Offshore Russia» exhibition
11:00 GTT receives a new order from Samsung Heavy Industries for the tank design of two new LNG carriers
10:55 NYK announces delivery of new wood-chip carrier for Hokuetsu Corporation
10:24 Baltic Dry Index is up to 1,434 points
10:01 Brent Crude futures price up 0.2% to $80.69, Light Sweet Crude – up 0.12% to $72.17
09:38 Yaroslavsky Shipyard lays down oil recovery vessel of Project Р2114 for Transneft
09:15 Audit summary report to be considered by Sub-Committee on Implementation of IMO Instruments

2018 September 24

18:36 DNV GL unveils the complexity of ocean governance in report for the UN Global Compact
18:03 Klaveness Combination Carriers AS announces completion of USD 45.0 million private placement
17:52 Port of Southampton recognised in top 20 under 40 cruise award
17:36 CMA CGM announces GRR from India West Coast to Mozambique
17:03 Metropolitan Plan for Great Newcastle endorses Port of Newcastle vision
16:50 Ust-Luga Container Terminal handles cargo for Nord Stream 2
16:47 Wightlink names its new flagship
16:45 Bomin exits the bunker markets in Singapore and Antwerp
16:43 Hamburg and St. Petersburg strengthen cooperation at the Port Evening
16:33 DNV GL ends operations in Iran by 4th November
16:19 Vladimir Panchenko dredger built by Shipbuilding - Ship Repair Corporation features local content of 90%
16:03 IMO sadness over Nyerere casualty
15:47 Moby Dik terminal starts handling vessels of Sea Connect line
15:33 Wärtsilä inaugurates upgraded EGC test facilities in Norway
15:20 ESPO wants more ambition on harmonisation of data, while maintaining flexibility in reporting systems
15:03 Vinalines to build 2 terminals at $299 mln in Lach Huyen Port
14:46 Port of Antwerp presents smart port of the future at Supernova
14:33 DFDS Seaways raises capacity on route Zeebrugge - Norway
14:18 Feasibility study of concession of state stevedoring companies «Olvia» and «Kherson» presented for acquaintance to potential investors
14:03 Norway’s largest cruise port of Bergen to build Europe’s largest onshore power supply facility
13:59 Sea Port of Saint-Petersburg named one of the best transport infrastructure facilities
13:34 Average wholesale prices for М-100 HFO up to RUB 21,529 in RF spot market
13:11 Okskaya Sudoverf lays down fourth dry cargo carrier of Project RSD32M
12:45 NOVATEK shipped first LNG cargo to Brazil
12:23 Finalists for the Seatrade Maritime Awards in Dubai announced
12:00 Nor-Shipping 2019 takes place in Oslo and Lillestrøm, Norway, from 04 to 07 June 2019