Friday 29 Mar 2024
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KUALA LUMPUR (Oct 10): MISC Bhd has secured two time charter parties (TCPs) from ExxonMobil Corp with an estimated combined value of US$711 million.

In a filing to Bursa Malaysia today, MISC said its vessel-owning entities, namely Polaris LNG One Pte Ltd (Polaris 1) and Polaris LNG Two Pte Ltd (Polaris 2), had signed the TCPs with ExxonMobil's unit SeaRiver Maritime LLC for the time charter of two newbuild liquefied natural gas carriers for operations in international waters.

It said the vessels will be chartered by SeaRiver for a firm period of 15 years.

MISC said the charters for the vessels are expected to commence in the first quarter of 2023.

It said the vessels will be constructed by Samsung Heavy Industries of Korea.

MISC said the TCPs are not expected to have any material impact on its earnings, gearing and net assets for the financial year ending Dec 31, 2019.

At the midday break today, MISC rose 1.25% or 10 sen to RM8.08, valuing it at RM36.07 billion.

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