MISC inks 16-year FSO charter contract with Hess

Malaysia’s MISC has signed a long-term charter contract with Hess Exploration and Production Malaysia for  FSO Mekar Bergading on a bareboat basis.

The contract is part of a sale and charter agreement between MISC and Hess, in which MISC acquired ownership of the FSO from HESS.

Under the contract, Hess will charter the FSO for a period of 16 years, commencing from September 1 at the latest. The total contract value is estimated at $441m.

FSO Mekar Bergading was built in 2009 as an oil tanker and was converted to an FSO in 2016.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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