KUALA LUMPUR (Feb 3): MISC Bhd (KL:MISC) said on Tuesday it has secured a 20-year charter contract from PETRONAS LNG Ltd for three newly built liquefied natural gas (LNG) carriers.
The charter agreement was executed on Jan 30, 2026, with services expected to begin in 2029, according to MISC’s bourse filing. The company did not disclose the value of the contract.
Simultaneously, MISC has signed shipbuilding contracts with Hudong-Zhonghua Shipbuilding for the construction of the three carriers.
Hudong-Zhonghua, a subsidiary of China State Shipbuilding Corporation (CSSC), specialises in research and development, engineering, and construction of ships, including large LNG carriers, ultra-large container ships, chemical tankers, heavy-lift vessels, and military ships.
According to MISC, the contract is a strategic initiative to capitalise on PETRONAS’ anticipated LNG production growth and supports the company’s fleet rejuvenation programme by introducing modern, efficient carriers designed to lower greenhouse gas emissions and overall emission intensity.
The time charters cover commercial, project execution, and operational risks, which MISC said it will manage through established controls and operational expertise.
This is the second charter contract MISC has secured this year. Last week, the company announced that a consortium of MISC and Kawasaki Kisen Kaisha Ltd had secured a 10-year time charter from Northern Lights JV DA for a newbuild 12,000-cubic-metre liquefied carbon dioxide carrier.
The new liquefied carbon dioxide carriers are scheduled for delivery between the second half of 2028 and the first half of 2029.
According to AskEdge, MISC shares are currently trading at 28.2 times trailing price-to-earnings and 1.0 times price-to-book value.
Ahead of Tuesday’s announcement, MISC’s share price rose 13 sen, or 1.6%, to RM8.13, giving the group a market capitalisation of RM36.3 billion.