MISC Buys Petronas’ LNG Carrier Newbuilds, Signs Long Term Charters

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 … [Read more...]

Petronas Pulls $3 Billion Bid for MISC Berhad, Shares Tumble

(Bloomberg) -- MISC Bhd., the world’s second- largest shipper of liquefied natural gas, tumbled the most in 14 years in Kuala Lumpur stock trading after Petroliam Nasional Bhd. withdrew its 9.16 billion ringgit ($3 billion) buyout offer. The stock fell 14 percent to close at 4.57 ringgit, its steepest drop since September 1998. That’s 17 percent below … [Read more...]

Petronas Raises Offer for LNG Shipper MISC Berhad

(Bloomberg) -- Petroliam Nasional Bhd., Malaysia’s state oil and gas company, raised its buyout offer for shipping group MISC Bhd. by 3.8 percent to $3 billion after minority shareholders complained its initial bid was too low. Petronas, as the energy group is known, increased its offer for the world’s second-largest liquefied natural gas shipping company to 5.50 … [Read more...]

MISC Berhad Makes Biggest Jump in 14 Years on Takeover Offer

(Bloomberg) -- MISC Bhd., the world’s second-largest liquefied natural gas shipper, surged the most in more than 14 years in Kuala Lumpur stock trading after receiving a takeover offer from Malaysia’s state-owned energy company Petroliam Nasional Bhd. The stock advanced 17 percent to close at 5.22 ringgit, its steepest increase since September 1998, with trading … [Read more...]