News and Highlights

MISC Secured Long-Term Time Charter Parties (TCPS) with QatarEnergy for New LNG Carriers

On 31^st March 2024, MISC successfully signed long-term Time Charter Parties (TCPs) with QatarEnergy for three newbuild LNG carriers, a significant milestone that reinforces MISC's secured income from its GAS portfolio and ongoing progress in its strategic growth agenda. These newbuild vessels will be chartered by QatarEnergy for a firm period of 15 years starting from 2026. Each vessel boasts a capacity of 174,000 cubic meters and will be equipped with the latest LNG shipping technologies, underscoring MISC’s commitment to achieving optimal fuel efficiency and reducing carbon emissions.

The signing ceremony took place at QatarEnergy’s headquarters in Doha, where MISC’s President & Group CEO, Captain Rajalingam, signed the long-term TCP agreements with His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs. The event was attended by senior executives from QatarEnergy, QatarEnergy LNG, MISC, and other shipowner companies such as China Merchant Energy Shipping (CMES) LNG Carrier Investment Inc., Shandong Marine Energy Pte. Ltd., and a joint venture of Kawasaki Kisen Kaisha Ltd. (K-Line) and Hyundai Glovis Co. Ltd.,

These new LNG carriers will play a crucial role in supporting QatarEnergy's LNG transportation needs, primarily from the North Field in Qatar and Golden Pass in the U.S., while also addressing their long-term fleet replacement requirements. The vessels will be constructed by Samsung Heavy Industries Co Ltd, further cementing the collaborative efforts between leading industry players. 

Moving forward with this strategic partnership, we remain dedicated to advancing our asset rejuvenation and growth agenda, ensuring sustainable development and reaffirming our position as a trusted leader in the LNG shipping industry.

MISC Joins Global Leaders at The Future LNG Asia

On 15^th May 2024, MISC was among the global representatives of the energy-maritime value chain at the Future LNG Asia Strategic Summit in Bangkok, Thailand. Mr. Hazrin Hasan, Vice President of Gas Asset & Solutions of MISC was a panel member who discussed on "LNG Shipping Availability, Decarbonisation & Supply Chain Disruption" alongside industry leaders from Pavilion Energy, ENN Natural Gas Co., Ltd., NYK Line, and Vortexa. Our involvement in this summit further reinforces the MISC Group’s reputation as a respected and responsible shipowner in the maritime sector.

Hosted by the Ministry of Energy Thailand and co-hosted by PTT Group and EGAT, the simultaneous staging of Future Energy Asia, Future Mobility Asia, and Future LNG Asia provided a crucial platform for leaders from major energy, mobility, and LNG corporations, as well as startups and innovators, to engage in discussions, debates, and knowledge sharing.

During the panel discussion, Mr. Hazrin shared valuable insights on the challenges and advancements in LNG shipping operations within the MISC’s fleet management plan. He emphasised the growing demand for LNG vessels over the next five years and the importance of ensuring high standards of operational efficiency and developing skilled personnel to meet this demand.

The panel also explored the shipping industry's response to new International Maritime Organization (IMO) and European Union (EU) regulations. The discussion highlighted the challenges for non-EU owners in complying with new EU rules, such as the EU ETS and FuelEU Maritime Regulation. Mr. Hazrin had the opportunity to share MISC's experience in managing ageing vessels under these guidelines. The discussion also addressed the impact of volatile LNG prices on shipping services across the entire value chain.

Nurturing Sustainable Partnerships

​MISC actively collaborates with external stakeholders through events and engagement activities to strengthen relationships and ensuring sustained collaboration for mutual growth and success.

Iftar Ramadan Events
Earlier in the first quarter, MISC hosted two Iftar events celebrating the month of Ramadan. On 21^st March 2024, the Shangri-La Hotel in Kuala Lumpur set the stage for a gathering between MISC’s GAS Management team with key stakeholders from PETRONAS LNG Sdn. Bhd. (PLSB) and PETRONAS LNG Ltd. (PLL). During another gathering on 26^th March 2024 at the InterContinental Hotel in Kuala Lumpur, we hosted our esteemed partners from PETRONAS Gas Berhad (PGB) and PETRONAS Regasification Terminal (RGT). Through these initiatives, we continue to strengthen our bonds with stakeholders, ensuring mutual understanding and shared success.

Aidilfitri Open House in Bintulu
On 29^th April 2024, MISC hosted an Aidilfitri Open House at the Fairfield by Marriott in Bintulu. The event brought together diverse attendees from various organisations, including clients, port authorities, and government agencies. This open house provided MISC with a valuable opportunity to connect with external stakeholders in an informal setting, fostering trust and rapport. This event marked the first engagement with Bintulu stakeholders since the COVID-19 pandemic, signifying a significant milestone in MISC’s ongoing efforts to rebuild and strengthen these vital relationships.

Annual Aidilfitri Open House Celebration in Kuala Lumpur
MISC Group’s Annual Aidilfitri Open House Celebration took place at the Grand Hyatt Kuala Lumpur on 3^rd May 2024. Over 700 guests attended the event, including MISC's Board of Directors, Management Committee Members, and colleagues from across the Group. This celebration provided an opportunity to cultivate relationships and engage meaningfully with distinguished clients, guests from government ministries, industry leaders, business partners, and stakeholders from various sectors.

Japan Energy Summit & Exhibition 2024 in Tokyo Big Sight

From the 3^rd to 5^th June 2024, our team at MISC LNG Liaison Office Japan (MLLOJ) joined as delegates at the Japan Energy Summit & Exhibition 2024. Held at Tokyo Big Sight, this prominent annual event, now in its 6^th edition, brought together industry leaders, policymakers, and innovators exploring cutting-edge energy advancements and forging strategic partnerships to drive sustainable solutions globally. 

During the panel sessions, discussions focused on the evolving landscape towards achieving Net-Zero 2050 goals. Despite this ambitious target, stakeholders stressed that LNG and Gas will remain crucial for the foreseeable future. They compared the potential transformation of the energy supply chain to historical shifts, such as the transition from steam to electric trains. The session was enlightening, offering diverse perspectives on energy transition and green transformation strategies. 

Courtesy Visit to LNG Terminal - SAKAIDE, MIZUSHIMA & HIBIKI
From 11^th to 12^th June 2024, MISC undertook a productive courtesy visit to the Sakaide, Mizushima, and Hibiki LNG terminals, engaging closely with industry stakeholders in Japan's vibrant energy sector.

Our delegates received a warm welcome from the key officials including Mr. Shibata, President, Mr. Nakama, Director and Associate Executive Officer Head of Hibiki LNG Terminal, and Mr. Adachi, General Manager. The hosts provided a comprehensive overview of the terminal's operations and infrastructure, highlighting its critical role in supplying city gas to households in the Fukuoka and Kita Kyushu areas. During the visit, we observed the integration of renewable energy sources, such as onshore solar panels. The hosts also explained on the installation of offshore wind turbines near the terminal to generate clean power.

Hibiki LNG handles approximately one LNG vessel per month, with around 60% of the total annual shipments being managed by MISC’s vessels, known for their efficiency in discharge operations. The positive feedback received on MISC vessels reflects their confidence in our operational efficiency and reliability in facilitating smooth operations with the terminal.