MISC has secured a long-term contract to provide liquefied natural gas shipping services to Petronas LNG, the company announced on February 3. The agreement follows the receipt of a letter of award on January 30, 2026, which establishes the framework for definitive time charter parties involving three newbuild vessels.
To support the project, MISC has entered into shipbuilding contracts with China's Hudong-Zhonghua Shipbuilding Group for the construction of the three ships. Each vessel will be subject to a firm charter period of 20 years. According to MISC, the commencement of these services is expected in 2029.
The shipping operations will be managed through the wholly owned subsidiaries of MISC. The company stated the project is intended to support the anticipated LNG production growth of Petronas.
Petronas LNG is a subsidiary of Petroliam Nasional, which also serves as the holding company for MISC.
MISC stated the charters are not expected to have any material impact on the financial position of the group for the financial year ending December 31, 2026. This assessment includes potential impacts on earnings per share, gearing, and net assets per share.
