Malaysian national shipping group MISC has entered into a contract with Chinese yard CIMC Raffles to convert a VLCC into an FPSO.
Under the agreement, CIMC Raffles will convert the 2005-built 300,500 dwt VLCC Bunga Kasturi Dua into an FPSO and will also be responsible for the construction of FPSO modules.
It is the first FPSO conversion contract CIMC Raffles has secured.
The FPSO will be heading to the Mero oilfield in Brazil after the conversion is completed.
MISC currently has six FPSO tankers in its fleet.