Petronas shifts LNG carriers MISC’s way

Kuala Lumpur: In a switch between subsidiaries Petronas has sold five LNG carriers being built at Hyundai Heavy Industries to its shipping line, MISC, for $1.1bn. the ships are due for delivery from September 2016 to December 2017. Petronas will then take the ships on a 15-year charters with options to extend by five years.

On a separate transaction, MISC announced Petronas has agreed to extend the charter of five refurbished Puteri Class LNG Carriers on a time charter basis for another 10 years for each refurbished LNG carrier.

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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