MISC Berhad (MISC) has entered into a new partnership agreement with Japanese ship owner, Nissen Kaiun Co., Ltd. (Nissen Kaiun) for the sale and charter of two of its existing LNG carriers.
Under the terms of the transaction, MISC will transfer ownership of the LNG carriers to Nissen Kaiun, and simultaneously enter into a charter agreement with Eaglestar and Synergy Marine as the shipmanagers.
Captain Rajalingam Subramaniam, President & Group CEO of MISC, said, “This strategic transaction is a testament to MISC’s commitment to enhancing our financial flexibility and our ability to adapt to evolving industry dynamics. This is part of our MISC 2030 business strategy to unlock value, maximising returns from our GAS portfolio, whilst growing commercial and operational scale for our shipping segment. I am happy that we are able to enter into this partnership with Nissen Kaiun and look forward to growing this collaboration for current and future business potentials. My thanks to the team members in the MISC Group including Eaglestar, Nissen Kaiun, and Synergy Marine for making this partnership possible within a short period of time.”
Captain Katsuya Abe, President of Nissen Kaiun, said, “We are very proud and excited to start our first time-charter business of LNG carriers for MISC. With support from Synergy Group and Eaglestar, we will strive for the safe operation of LNG carriers. Following this memorable first step, we hope to expand the relationship with MISC in LNG carriers and other segments too.”
The first of the two vessels is expected to be delivered to Nissen Kaiun in the fourth quarter of 2023.
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About MISC Berhad
MISC Group, a member of the PETRONAS Group of Companies, is an international maritime company with more than 55 years of experience. 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
About Nissen Kaiun
Nissen Kaiun Co., Ltd. (Nissen Kaiun) is a family-owned shipping company led by Capt. Katsuya Abe, based in Hakatajima, Imabari City, Japan. Nissen Kaiun owns and operates a wide variety of vessels, including Gas Carriers, Oil and Chemical Tankers, Bulk Carriers and Container Ships.
Issued on behalf of MISC Berhad by the Group Corporate Communications (GCC) Division of MISC
Berhad. For media inquiries, please contact:
Shanni Muthiah
Head, Group Corp. Communications
Group Corporate Communications
MISC Berhad
Tel : +603-2275 2224
Email : [email protected]
Maisara Noor Ahmad
Head, External Communications
Group Corporate Communications
MISC Berhad
Tel : +603-2275 3496
Email : [email protected]
