MISC Berhad (MISC) has secured long-term Time Charter Parties (TCP) with PTT Public Company Limited (PTT) for two newbuild Very Large Ethane Carriers (VLECs). This landmark agreement reflects MISC’s commitment to its #deliveringProgress strategy, which focuses on driving sustainable growth, enhancing portfolio resilience, and delivering value to stakeholders. The VLECs will be serving the transportation needs of PTT’s potential offtake from ethane export facilities in the United States of America to Thailand.
The addition of these state-of-the-art VLECs accelerates MISC’s efforts to rejuvenate its portfolio and strengthen the resilience of its revenue generators. By diversifying into the ethane export market, MISC is not only expanding its footprint in the global energy industry but also ensuring a more robust and sustainable revenue stream. This aligns with MISC’s long-term vision to deliver progress through innovative and forward-thinking solutions.
From Left to Right : Mr. Zahid Osman, President & Group Chief Executive Officer of MISC, Mr. Jaturong Worawitsurawatthana, Senior Executive Vice President, International Trading Business Unit, PTT Public Company Limited, Mr. Toasaporn Boonyapipat, President, PTT Global Chemical Public Company Limited, Mr. Brent B. Secrest, Commercial Officer, Enterprise Products Partners L. P. and Ms. Varanyanan Inthatathon , Managing Director Thai Tank Terminal
President and Group Chief Executive Officer of MISC Berhad, Mr. Zahid Osman said, "The TCP will contribute towards the expansion of MISC’s portfolio in the global ethane export market. As a trusted partner, we are committed to delivering best-in-class shipping solutions that meet the evolving needs of the global energy industry safely and efficiently. PTT’s decision to partner us reflects their confidence and trust in MISC. We thank PTT for their confidence in our capabilities and. look forward to #deliveringProgress in partnership with PTT."
The vessels will be constructed by HD Hyundai Heavy Industries and are scheduled for delivery by the end of 2028. Once completed, these 100,000 cbm VLECs will rank among the largest of their kind in the world. Designed with dual-fuel ethane propulsion engines, these VLECs are engineered to reduce greenhouse gases compared to conventional vessels and complies with IMO Tier III NOx regulations. The vessels will be equipped with Shaft Generator technology, which harnesses power from the main engine for onboard use, significantly reducing both fuel consumption and emission levels. These innovative features reflect MISC’s commitment to sustainable shipping and supports our efforts to reduce emissions across our operations. Beyond their primary role of transporting ethane, the VLECs are also capable of carrying ethylene and liquefied petroleum gas in the membrane cargo tanks at a cryogenic temperature of -104 Celsius via the GTT MARK III containment system.
The TCP agreement was signed by President and Group Chief Executive Officer of MISC Berhad, Mr. Zahid Osman, and Mr. Jaturong Worawitsurawatthana, Senior Executive Vice President, International Trading Business Unit, PTT Public Company Limited. Witnesses of the signing were Mr. Hazrin Hasan, Vice President of Gas Assets and Solutions (GAS) of MISC and Mr. Kajorn Rungsalitsak, Executive Vice President, International Trading - Downstream, PTT Public Company Limited.
This partnership showcases MISC’s passion for sustainable growth, our drive for innovation, and commitment to purposeful partnerships, guided by our #deliveringProgress strategy.
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About MISC Berhad
MISC Group is an international maritime conglomerate with more than 55 years of experience in the dynamic maritime industry. Our extensive global footprint allows us to deliver a wide range of solutions that cater to various areas within the maritime-related energy value chain.
At the heart of MISC Group's success is our modern and diversified fleet of vessels and floating assets, complemented by the expertise of our diverse global workforce at sea and shore. As a future-focused organisation, we are committed to leading from the front, propelling the maritime industry into the future, and achieving society’s aspiration for a just energy transition.
For more information, visit https://www.miscgroup.com
Issued on behalf of MISC Berhad by the Group Strategic Relations & Communications (GSRC) Division of MISC Berhad. For media inquiries, please contact:
Maisara Noor Ahmad
Head, External Communications
Group Strategic Relations & Communications
MISC Berhad
Tel : +603-2275 3496
Email : [email protected]
Mansurah Raisa Binti Ab Rahim
Manager, External Communications
Group Strategic Relations & Communications
MISC Berhad
Tel : +603-2275 3250
Email : [email protected]
