MISC Secures 20-year LNG Shipping Contract From Petronas LNG

KUALA LUMPUR, Feb 3 (Bernama) -- MISC Bhd has received a letter of award (LoA) from PETRONAS LNG Ltd (PLL) for the provision of long-term liquefied natural gas (LNG) shipping services, involving three newbuild LNG carriers.

MISC said under the LoA issued on Jan 30, 2026, it will charter the three newbuild LNG carriers to PLL for 20 years each, with services commencing in 2029 and provided through its wholly owned subsidiaries.

"The time charters include commercial, project execution and operational risks inherent to the industry. MISC will take appropriate measures to mitigate through established controls, experience and operational expertise," the maritime conglomerate said in a filing with Bursa Malaysia today.

MISC said in parallel with the LoA, it has entered into shipbuilding contracts with Hudong-Zhonghua Shipbuilding (Group) Co Ltd for the construction of the three LNG carriers.

It said the project will not affect MISC’s share capital, and is not expected to have a material financial impact on the group for the financial year ending Dec 31, 2026.

-- BERNAMA