MISC Bhd announced on Tuesday that it has secured a 20-year charter contract from PETRONAS LNG Ltd for three newly built liquefied natural gas (LNG) carriers. The agreement, executed on Jan 30, 2026, is set to commence in 2029. The contract value was not disclosed.
At the same time, MISC signed shipbuilding agreements with Hudong-Zhonghua Shipbuilding, a subsidiary of China State Shipbuilding Corporation (CSSC), to construct the three carriers. Hudong-Zhonghua specialises in the design and construction of large LNG carriers, container ships, chemical tankers, heavy-lift vessels, and military ships.
MISC said the contract aligns with PETRONAS’ expected LNG production growth and supports the company’s fleet rejuvenation programme, which aims to introduce modern, fuel-efficient vessels with lower greenhouse gas emissions. The time charters cover commercial, project execution, and operational risks, which MISC will manage using its established operational expertise.
This marks the second charter contract MISC has secured this year. Last week, a consortium of MISC and Kawasaki Kisen Kaisha Ltd won a 10-year time charter from Northern Lights JV DA for a newbuild 12,000-cubic-metre liquefied carbon dioxide carrier, with delivery scheduled between the second half of 2028 and the first half of 2029.
Ahead of Tuesday’s announcement, MISC’s share price rose 13 sen, or 1.6%, to RM8.13, giving the group a market capitalisation of RM36.3 billion. According to AskEdge, MISC shares are currently trading at 28.2 times trailing price-to-earnings and 1.0 times price-to-book value.
