MISC exits tank terminal business

MISC exits tank terminal business

Malaysia’s largest shipping line MISC is exiting the tank terminal business, selling its 45% stake in Centralised Terminals to compatriot Dialog, an energy infrastructure specialist. Dialog is paying RM193m ($46m) to buy the stake, giving it full control of the facility.

Yee Yang Chien, president and group CEO of MISC, said, “It has been a great pleasure working with Dialog over the past decade since 2007 and we wish Dialog the very best in its future endeavours… For MISC, this divestment will enable us to unlock the value of our investment in CTSB and take advantage of other opportunities within the energy and maritime industry.”

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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