Watch: This Is Why Biden’s $2 Trillion Infrastructure Plan Will Fail
In the United States, we have a problem that’s so BIG and obvious that even Elon Musk can’t see it. Our highways are broken, our streets are clogged with traffic,...
Malaysian shipping company MISC Berhad announced today they have acquired the newbuilding contracts of five LNG carriers under construction at Hyundai Heavy Industries in a $1.1 billion deal. The orders were originally placed by Petronas, a 63% shareholder in MISC, and will be delivered between 2016 and 2017.
In conjunction with this deal, MISC Bhd says they have signed 15+5 year charter contracts for these ships to Petronas LNG Sdn Bhd, a Petronas subsidiary.
Separately, MISC says that Petronas has agreed to extend the charter of five of their refurbished Puteri-class LNG Carriers on a time charter basis for another ten years. The respective charters shall commence from the date of delivery of each refurbished vessel to Petronas beginning in September 2015 to September 2017.
Join the 68,320 members that receive our newsletter.
Have a news tip? Let us know.