Photo: Image Courtesy: MISC

MISC Orders LNG Carrier Duo, Inks Charter Deals with Exxon

Malaysia’s MISC Berhad has placed an order for two new liquefied natural gas (LNG) carriers with South Korea’s Samsung Heavy Industries (SHI).

The 174,000 cbm LNG carriers were ordered under a KRW 485.3 billion (USD 406.2 million) deal, according to an SHI stock exchange filing. The units are scheduled for delivery by the end of the first quarter of 2023.

The vessels will feature state-of-the-art technologies including XDF propulsion, Mark III Flex Plus containment system and full re-liquefaction facility for higher efficiencies and to meet the demand for worldwide trading and long-haul voyages, the company explained.

MISC subsequently secured time charter contracts for the LNG carrier duo with Exxon Mobil Corporation’s subsidiary, SeaRiver Maritime.

Each of the LNG carriers would be deployed on a 15-year charter contract to serve the transportation needs of ExxonMobil’s worldwide LNG portfolio.

“The addition of these two vessels will help us build a competitive LNG value chain as ExxonMobil continues to grow its global gas portfolio and expand supply positions to meet evolving needs of our customers,” Alex Volkov, Vice President of Global LNG Marketing at ExxonMobil, said.