KUALA LUMPUR (July 27): MISC Bhd announced today it has received the delivery of Seri Cempaka, the third of five of its MOSS-Type Seri-C Class Liquefied Natural Gas (LNG) carrier.

In a statement, MISC said Seri Cempaka — built by Hyundai Heavy Industries — will join its two earlier carriers in the series, Seri Cenderawasih and Seri Camelia, on long-term charter to Petroliam National Bhd (Petronas).

The delivery of Seri Cempaka brings the current number of MISC's LNG fleet to 27 vessels, it said, adding that the other two vessels in the pipeline are under construction in South Korea.

MISC said it is the first ship owner in the world to have operations experience with a floating LNG (FLNG) unit.

"The MOSS-Type newbuilds are part of MISC's long-term fleet expansion programme, and have been designed for worldwide trading capability to enable them to call at all 80 LNG receiving terminals and 26 liquefaction terminals in operation worldwide.

"Its robust and superior cargo containment system allows a higher degree of flexibility for MISC to accommodate cargo loading operations at FLNG units," it added.

Additionally, it said the MOSS-Type vessels have been designed to minimise hull resistance, increase propulsion efficiency, reduce power requirements, and reduce carbon dioxide emissions.

MISC chief executive officer Yee Yang Chien said the company has pursued a very pragmatic fleet modernisation and development programme designed to meet the changing needs of its customers.

"With the delivery of three of our five MOSS-Type LNG carriers, MISC has made significant strides in further enhancing our LNG business unit and capabilities for serving this growing market," added Yee.

In the same statement, Petronas executive officer and group chief financial officer Datuk George Ratilal said Seri Cempaka and the rest in the series are "a feat of engineering that have placed operational efficiency and environmental responsibility at the core".

"This results in an LNG carrier of unrivalled performance, reflecting the commitment of our trusted partner, MISC, in supporting our global operations.

"I would like to extend a special thank you to the team at Hyundai Heavy Industries as well as MISC's Project Management Team for their hard work and perseverance in delivering Seri Cempaka to us today," he added.

Shares of MISC last closed 1 sen or 0.14% lower at RM7.38, giving it a market capitalisation of RM32.94 billion.