MISC secures 15-year charter deals with ExxonMobil for two new LNG carriers
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, the company said in its release.
Each of the LNG carriers will respectively serve the transportation needs of ExxonMobil’s worldwide LNG portfolioon 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 carriersin Korea. The vessels will have a capacity of 174,000 cubic metres (cbm) and will feature state-of-the-art technologies including modern XDF propulsion, Mark III Flex Plus containment system and full re-liquefaction facility for higher efficiencies and to meet the demand for worldwide trading and long-haul voyages. The LNG carriers are expected to be delivered in the first quarter of 2023.
MISC’s President / Group Chief Executive Officer, Mr. Yee Yang Chien said “This is certainly a landmark moment for MISC, and we are proud to expand this strategic partnership with ExxonMobil through SeaRiverin providing best-in-class shipping solutions, beginning with Petroleum and now LNG. With our broad spectrum of energy related maritime solutions and services, MISC is confident of our ability to serve the various needs of the global oil and gas industry. We honour the trust and value the opportunity given for us to support ExxonMobilin ensuring safe, efficient and reliable transportation of LNG. Ultimately this partnershipis a testament to our capabilities of fulfilling the world’s growing demands for this energy source.”
MISC is currently one of the largest single owner-operators of LNG tankers in the world with more than three decades of distinguished reputation for overall operational excellence, reliability, safety and on-time cargo deliveries. At present, its LNG fleet consistsof 29 LNG carriers and two FSUs with a combined deadweight tonnage (dwt) capacity of over 2 million dwt.
About MISC Berhad
MISC Berhad (MISC), was incorporated in 1968 and is a world leading provider of international energy related maritime solutions and services. 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, integrated marine services, port and terminal services as well as maritime education and training. As of 30 June 2019, MISC Group’s fleet consists of more than 100 owned and in-chartered Liquefied Natural Gas (LNG), Petroleum and Product vessels, 15 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.