MISC inks RM2.16b charter contract from Petrobas

February 6, 2020 editor

KUALA LUMPUR: MISC Bhd has won a new long-term charter contract from Brazilian national oil company Petrobas for US$525.6 million (RM2.16 billion).

MISC said its wholly-owned subsidiary AET Tanker Holdings Sdn Bhd was awarded the contract to own and operate three newbuilding Suezmax DP2 shuttle tankers for operations in Brazilian and international waters.

“AET is the petroleum shipping unit of MISC and specialises in the global ocean transport of petroleum,” the group said in a filing with Bursa Malaysia.

“These new vessels will be in addition to the six [four currently under construction] specialist DP2 Suezmax size shuttle tankers on time charter to Petrobras for operation in the Brazilian Basin,” it added.

MISC said the new charter is expected to start in 2022.

Shares in MISC closed 1.4% or 11 sen higher at RM7.96 yesterday, valuing the group at RM35.53 billion.

Source: TheEdgeMarkets