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Our history and journey
MISC was founded in 1968 to support trade and economic development and to promote the maritime sector in Malaysia. Since then, we have grown into a global maritime conglomerate with over 100 vessels and floating assets, and more than 9,000 professionals at sea and shore.
Throughout the years, MISC has had various streams of business, which have cut across multiple areas of shipping and logistics, liner, dry and liquid bulk, LNG, and petroleum and chemical products.
Over time, we have defined the focus of our businesses in supporting the energy value chain through our range of energy-related maritime solutions and services. We have successfully built our presence in the global energy industry, with a distinguished reputation for safety, efficiency, and reliability.
Today, our work supports many of our clients’ own success stories, from the safe transportation of energy-related cargoes to the operation of offshore floating solutions and the construction of complex marine structures.
2050
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Achieving Historic Milestones
Reaching New Heights
Weathering the Storm
Journey of Rebuilding and Discovery
Embracing Opportunities
Silver Linings and A Turbulent Year
Innovating Excellence
Leading the Future
Empowering Legacy
Milestones of Growth
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Our Humble Beginnings
- A decade of firsts unfolded with the incorporation of the Malaysia International Shipping Corporation (MISC) as the country’s first shipping line followed by the launch of MV Bunga Raya being MISC’s first ship.
- We then received our first batch of qualified and trained Malaysian seafarers.
- We began building our global presence, serving the regional and intercontinental shipping routes with a diversified range of shipping solutions including liner, dry bulk and liquid bulk.
- This period also saw the foundation of the Malaysian Training and Education of Seamen (MATES).
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Achieving Historic Milestones
- MISC launched our foray into energy shipping and was entrusted to deliver Malaysia’s first LNG cargo to Japan. Our first fleet of LNG carriers were the Tenaga Class. During this period, we also embarked on the chemical shipping business.
- MATES was upgraded to academy status and renamed as the Malaysian Maritime Academy (ALAM).
- The highlight of the era was the listing of MISC on the Main Board of the Kuala Lumpur Stock Exchange (now known as Bursa Malaysia Securities Berhad).
- MISC also diversified its businesses to include land based shipping-related services such as container services, logistics and warehousing as well as shipping agency.
- Towards the end of this period, MISC became a subsidiary of PETRONAS.
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Reaching New Heights
- A dynamic era of growth and expansions, particularly in the energy related maritime solutions sector, MISC acquired American Eagle Tankers (now known as AET) and made the Malaysia Shipyard and Engineering Sdn. Bhd. (MSE) its wholly-owned subsidiary, which was later renamed as the Malaysia Marine and Heavy Engineering Sdn. Bhd. (MMHE).
- Offshore Business Unit was formed during this period as we continue to strengthen our position as a leading player in the oil and gas industry.
- MISC took delivery of our first floating production, storage & offloading (FPSO) facility, FPSO Bunga Kertas and our first deepwater facility, FPSO Kikeh.
- MISC also expanded its energy solutions portfolio by venturing into the business of developing and operating tank terminals for storage solutions.
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Weathering the Storm
- After weathering several years of severely challenging conditions in the shipping industry, we took the difficult decision to exit from the liner business in 2011 as well as to divest our non-core businesses (such as the land logistics and tank terminal business), a process which continued until 2017.
- This strategic rebalancing of our business portfolio allowed us to channel our resources on our four core businesses, namely LNG shipping, petroleum shipping, offshore and heavy engineering business, and take advantage of other opportunities within the energy and maritime industry.
- MMHE was listed on the main market of Bursa Securities as Malaysia Marine and Heavy Engineering Holdings Berhad (MHB). During this period, MISC delivered the Gumusut- Kakap semi-submersible FPS, Asia’s largest facility for deepwater development.
- The Group also launched our first two LNG floating storage units (FSUs) for Malaysia’s first regasification terminal in Sungai Udang, Melaka.
- AET successfully operationalised its dynamic positioning shuttle tanker (DPST) business in Brazil.
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Journey of Rebuilding and Discovery
- MISC became a constituent of the FTSE4Good Bursa Malaysia Index, a testament to our remarkable sustainability performance.
- We also refreshed our Vision, Mission Statements and Tagline as well as enhanced our logo.
- During this period, MISC Group’s shipmanagement units were integrated into a single entity known as Eaglestar.
- PETRONAS Maritime Services Sdn. Bhd. became part of MISC Group and now known as MISC Maritime Services Sdn. Bhd. (MMS).
- MISC took delivery of our first fleet of Moss-type LNG Carriers, the Seri C Class. The period also saw AET taking delivery of its first modular capture vessel (MCV), Eagle Texas.
- MISC joined the ranks of global maritime industry players as a Strategic Partner of the Global Maritime Forum (GMF), committed to unleashing the potential of the global maritime industry to increase sustainable long-term economic development and human well-being.
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Embracing Opportunities
- We celebrated our 50th anniversary in 2018, marking five decades of growth, resilience, and commitment towards excellence. MISC continues its journey forward, driven by our people with their unwavering passion to push boundaries and explore the possibilities that lie ahead.
- We have been pursuing efforts towards sustainable growth in the long term by developing a healthy pipeline of new projects, as well as winning the trust and confidence of our stakeholders.
- MISC has also received numerous accolades which recognised our excellence in corporate governance, investor relations, sustainability and HSSE performance.
- We became a member of Getting to Zero Coalition by Global Maritime Forum, leading the push for international shipping’s decarbonisation.
- We broke new grounds within the industry through the deployment of LNG dual-fuel vessels and have joined forces with other industry players to develop new zero-carbon fuel technology that reflects our pledge in upholding sound environmental stewardship.
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Silver Linings and A Turbulent Year
- MISC moved onwards, charting several firsts. We secured our first major deepwater FPSO project in Brazil, building strong foundations for future large scale and complex international projects.
- We entered the China ethane maritime transport markets, with MISC taking delivery of six newbuild VLECs, all with long-term charters.
- MHB successfully completed and commenced operations at Dry Dock 3 located at MMHE West Yard in Pasir Gudang, Johor.
- AET added to our recurring income stream, long-term charter contracts to own and operate three newbuild LNG dual-fuel VLCCs.
- MISC was listed as a constituent of the Dow Jones Sustainability Emerging Markets Index - the only Malaysian transportation sector company and one of the three Malaysian companies to do so.
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Innovating Excellence
- Eaglestar (presently known as MISC Marine) appointed its first Malaysian female Master Mariner, further affirming its commitment towards fostering diversity and inclusion.
- MISC won four awards at the Sustainable Business Awards (SBA) Malaysia 2020/2021 – Waste Productivity & Materiality, Climate Change & Emissions, Land Use & Biodiversity, and Stakeholder Management, recognised for outstanding performance in environment and social sustainability.
- MISC Group joins 300 industry leaders pledging support to the Neptune Declaration to promote and protect the welfare of seafarers.
- AET's DPST Eagle Passos becomes the industry’s first shuttle tanker to be granted the SMART (INF) Notation by the American Bureau of Shipping (ABS).
- Lloyd's Register, MISC, MAN Energy Solutions, Samsung Heavy Industries, Yara and Maritime and Port Authority of Singapore (MPA) formed The Castor Initiative, a coalition to develop ammonia-fuelled tanker by 2025. Total Energies joins the coalition in 2022.
- MHB clocks 20 million safe manhours without lost time injury.
- AET wins the Singapore Registry of Ships (SRS) Ship Owner of the Year Award at the Singapore International Maritime Awards (IMA) 2021.
- MISC Berhad makes its debut on the Dow Jones Sustainability Emerging Markets Index 2021.
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Leading the Future
- MISC secured six years charter contract extension with Thailand’s PTT Exploration & Production (PTTEP) for FPSO Kikeh in Sabah, Malaysia.
- MISC secured 12 newbuild LNG vessels with QatarEnergy, bolstering position as the global leader in energy transportation.
- TotalEnergies joined The Castor Initiative, expanding the coalition’s diverse circle of maritime expertise completing the ecosystem required to develop ammonia-fuelled tankers.
- MISC and MHB recognised at The Edge ESG Awards for the Group’s firm commitment towards ESG, to create positive impact towards a sustainable future.
- AET took delivery of Eagle Valence, one of the world's first dual-fuel and amongst the most environmentally friendly VLCCs.
- Eaglestar’s (presently known as MISC Marine) Captain Eezmaira becomes Malaysia's first woman to receive the National Seafarer of The Year Award.
- AET's Eagle Valence wins Tanker of the Year at the Tanker Shipping & Trade Awards.
- MHB awarded the Kasawari Carbon Capture & Storage (CCS) project, Malaysia’s first CCS project and the world’s largest offshore CCS project by volume captured.
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Empowering Legacy
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MISC partners with industry experts to explore opportunities on Carbon Capture and Storage (CCS) solutions in the maritime value chain.
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MISC welcomed two latest generation of Liquefied Natural Gas (LNG) carriers, Seri Damai and Seri Daya.
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MHB Secured EPCI Contract from Carigali-PTTEPI Operating Company Sdn Bhd for EPCI Provision of five wellhead platforms, five subsea pipelines and host tie-ins works in the Malaysia-Thailand Joint Development Area (MTJDA).
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MISC unveils MMEGA, poised to become one of the world’s largest and sustainable FPSOs.
- Mr. Zahid Osman named as the President & CEO of AET, succeeding Capt. Rajalingam Subramaniam.
- AET and ALAM inked milestone Collaboration Agreements with WinGD and DNV. These agreements pave the way for Ammonia Dual-Fueled Vessels, marking a historic milestones as the first of its kind in the world for deep-sea vessels; as well as for research & development and curicullum enhancements, aligning with the industry's shift towards a low and zero-carbon pathway.
- Minister of Transport Malaysia, Yang Berhormat Anthony Loke Siew Fook, launched ALAM’s Business & Management Diploma Programmes during the Day of the Seafarer 2023 celebration.
- AET took delivery of Eagle Vellore, Malaysia's second LNG dual-fuel VLCC and the first to be named in Malaysia marking a historic milestone in Malaysia's maritime history.
- MISC awarded an AiP by DNV for the innovative FCSU and FCSU-I solution, leading the quest to enhance the efficiency of the CCS value chain within the maritime industry.
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MISC inked a Term Sheet with PETRONAS CCS Ventures and MOL to jointly develop LCO2 carriers for CCS projects in Malaysia.
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MISC’s USD527 million Senior Secured Term Loan for six VLECs clinched the prestigious Sustainability-Linked Deal of The Year for Asia at the Marine Money Week Asia 2023.
- MISC signed a binding Heads of Agreements with PETRONAS Gas Berhad’s Pengerang LNG (Two) Sdn. Bhd., for the supply, operation and maintenance of an LNG FSU to be deployed at the PETRONAS LNG Regasification Terminal Pengerang in Johor.
- MISC celebrated 55 years of maritime excellence, innovation and resilience.
- Eaglestar (presently known as MISC Marine) was awarded the Alternative-Fuelled Design of the Year at the Marine Fuels 360 Awards in Singapore.
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Milestones of Growth
- MISC launched FPSO Marechal Duque de Caxias, the Group's first ultra-deepwater asset, and among the largest of its kind in the world.
- MISC enters into Time Charter Party Contracts (TCP) with PETCO Trading Labuan Company Ltd (PTLCL) via its petroleum arm, AET, for the world's first two ammonia dual-fuel Aframaxes.
- MISC collaborated with PETRONAS Carigali Sdn. Bhd, Clean Energy System Inc, and Aker Solutions for a pilot project featuring the Zero-Emission Power Station (ZEUS), a pioneering energy solution that utilises advanced oxyfuel combustion with immediate CO2 capture and storage.
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MISC hits first oil for FPSO Marechal Duque de Caxias at the Mero field, in Santos Basin, Brazil.
