News

MISC, Avenir LNG bag US$28 mln charter contract from Petronas

KUALA LUMPUR, Oct 2 -- MISC Bhd’s collaboration with Avenir LNG Ltd has bagged a US$28 million (equivalent to RM17 million) (US$1=RM4.1850/1900) charter contract from Petroliam Nasional Bhd’s (Petronas) unit Petronas LNG Sdn Bhd (PLSB).

In a filing to Bursa Malaysia today, MISC said the works are for the provision of one Liquefied Natural Gas Bunker Vessel (LNGBV) for operations primarily in Malaysian and Singaporean waters.

“MISC and Avenir have agreed on the principal terms for its partnership and will enter into a shareholders’ agreement. 

“A joint venture company, Future Horizon (L) Pte Ltd (FHLPL), will be formed to manage the commercial operations of the LNGBV with the ship management to be provided by Eaglestar Shipmanagement (L) Pte Ltd, an indirect wholly-owned subsidiary of the company,” it said.

The LNGBV will be chartered by PLSB for a period of three years, with the charter expected to commence by the first quarter of 2020.

Avenir, a company incorporated in Bermuda, is a joint venture between Stolt-Nielsen Ltd, Golar LNG and Hoegh LNG, and is positioned as a fully integrated small-scale LNG supplier.

PLSB, a company incorporated in Malaysia, is a wholly-owned subsidiary of Petronas International Corporation Ltd, which in turn is a wholly-owned subsidiary of Petronas.

PLSB is principally involved in management services and chartering of LNG ships.

-- BERNAMA

 

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