MISC in mid-sized LNG carrier foray

Oct 14, 2024

MISC has inked five-year time charters with LNG Shipping for two LNG carriers it has acquired from the Eni subsidiary.

November 27, 2018

MISC has acquired the vessels LNG Portovenere and LNG Lerici from LNG Shipping and they start five-year time charters with a combined value of $133m in December this year and January 2019 respectively.

The acquisition and time charters represent a move into the mid-sized LNG carrier segment by the Malaysian shipowner.

“In view of the evolving marketplace, there is certainly potential for us to diversify our solutions by including mid-scale and small-scale LNG transportation especially with the growing spot market demand for LNG trading and this will enable MISC to develop our capability in the trading of multiple-size vessels as well as our reach to other global locations,” said Yee Yang Chien, president and ceo of MISC.

“These mid-sized LNG carriers also present unique opportunities that supports MISC’s efforts to venture into non-conventional LNG shipping solutions, whereby upon expiry of the charter party, these vessels will have the potential to be converted into mid-sized Floating Storage Regasification Unit (FSRU), Floating Storage Unit (FSU) or other alternative LNG floating solution projects,” he added.

MISC has a fleet of 28 LNG carriers and two FSUs.

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Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

Goodbye Globalization? Red Sea Impacts Reviewed, EGN Singapore (Executives' Global Network) webinar, February 2024

Offshore Marine Breakfast Forum at Sea Asia 2023

Sustainable Finance, Shipping & Technology at Hong Kong Maritime Week 2022

Building & Operating Dual-Fuel Vessels, February 2022

Shipping’s Decarbonisation Challenge – The Role of Technology and Digitalisation at Hong Kong Maritime Week 2021

The Challenge Faced by Ship Registries in a Digital and Post-Pandemic Era, October 2020

The Future of Transhipment Hubs Post-Pandemic, November 2020

Offshore Marine Breakfast Forum at Sea Asia 2019

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