KUALA LUMPUR (Nov 3): MISC Bhd and its consortium partners have secured long-term shipping charter contracts from Qatar state-owned QatarEnergy.
QatarEnergy is involved in exploration, production, refining, transport and storage.
In a Bursa Malaysia filing on Thursday (Nov 3), MISC said its consortium with Nippon Yusen Kabushiki Kaisha (NYK), Kawasaki Kisen Kaisha Ltd (K-Line) and China LNG Shipping (Holdings) Ltd (CLNG) had been awarded the time charter parties (TCPs) by QatarEnergy for five 174,000m3 newbuild liquefied natural gas carriers (LNGCs) to be built by Hudong-Zhonghua Shipbuilding (Group) Co Ltd.
It said each consortium member will have equal equity interest of 25% in each awarded LNGC.
MISC has entered into shareholders’ agreements with the consortium through its wholly owned subsidiary Portovenere and Lerici (Labuan) Pte Ltd.
It said joint venture companies will be formed to manage the commercial operations of the LNGCs, and Eaglestar Shipmanagement GAS (S) Pte Ltd, an indirect wholly owned subsidiary of MISC, will be providing ship management services for part of this project.
It said pursuant to the TCPs, the LNGCs will be employed by QatarEnergy under long-term charters starting from 2025 onwards.
MISC said that NYK, a company headquartered in Tokyo, Japan, is a global transportation company, operating a sizeable fleet of ocean vessels, planes and trucks.
K-Line is a container transportation and shipping company.
Meanwhile, CLNG specialises in LNG shipping, covering LNG transportation project research, investment, supervision and management of LNGCs.
At the midday break on Thursday, MISC shed 0.28% or two sen to RM7.18 with 613,100 shares traded.