Vice President's Key Message

Dear valued readers,

As we step into the year 2024, I want to extend my warmest New Year's greetings to our valued readers, incredible employees, valued partners, cherished customers, and esteemed stakeholders. Your steadfast support has truly been the bedrock of our success in the past year, and I'm genuinely looking forward to another year of shared accomplishments and growth.

Reflecting on the highlights of 2023, MISC achieved some truly remarkable milestones, solidifying our position as one of the reputable and prudent shipowners in the maritime industry. The successful delivery of Seri Daya and Seri Damai, both honoured with the prestigious Green Ship status by the Maritime and Port Authority of Singapore, underscores our unwavering commitment to environmental responsibility. These vessels stand as pioneers within MISC's LNG fleet, marking the second and third vessels within our group to receive this distinguished accolade.

In our ongoing commitment to sustainability, we have achieved a significant milestone by successfully installing Shaft Power Limitation (“ShaPoLi”) on all 25 vessels, making significant strides in our efforts to reduce carbon emissions and optimise energy consumption. Our dedication to environmental responsibility remains unwavering, supported by collaborative initiatives with various stakeholders.

We're excited to share that we've successfully finalised a Heads of Agreement with Pengerang LNG (Two) Sdn Bhd (PLNG2SB) for the supply, operation, and maintenance of a Floating Storage Unit (FSU). This development marks the next stage in our collaborative journey initiated in 2012 with PETRONAS Gas Berhad. Building on our past success, which saw the deployment of FSU Tenaga Satu and FSU Tenaga Empat at the LNG Regasification Terminal Sungai Udang, Melaka, we are confident that this new collaboration with PLNG2SB will further strengthen our partnership and contribute to ongoing success in the energy sector.

Additionally, we've entered into a strategic partnership with Nissen Kaiun Co., Ltd., involving the sale and charter of two of our Puteri Class LNG carriers. This strategic transaction is a testament to MISC’s commitment to financial flexibility and adaptability in the ever-evolving maritime industry.

These collaborations position MISC for resilience and success in the energy and maritime sectors especially in the short-term/ spot charter market

Looking ahead to 2024, we are poised to continue sustaining our collaborative efforts with our JV partners to further contribute to the expansion of the QatarEnergy Tranche 1 Project. The commencement of the steel-cutting phase for QatarEnergy’s vessel, H1797A, at the Hudong-Zhonghua shipyard in Q3 last year symbolises the beginning of an exciting journey in which we, together with our esteemed partners and the dedicated project team, will craft world-class LNG carriers. It is an opportunity to strengthen our collaboration and renew our commitment to ensuring that every aspect of this project, including safety, quality, and efficiency, is maintained at the highest standards. As we move forward in this venture, we are committed to upholding our reputation for excellence, safety, and reliability.

To our valued customers and stakeholders, I extend my heartfelt gratitude to each one of you who has been a pillar of support, motivation, and collaboration throughout the year 2023. Your unwavering dedication has played a pivotal role in our collective achievements and breakthroughs. It is through your support that we have not only met but exceeded expectations.

As we celebrate our successes, it's crucial to emphasise the importance of Health, Safety, Security, and Environment (HSSE). Our unswerving commitment to upholding a strong Generative HSSE Culture in our business and operations is imperative to safeguard our well-being and contributes to our overall success. HSSE shall always remain our highest priority, ensuring it's an integral part of our daily operations for a safer and more resilient work environment.

In 2024, we remain steadfast in our commitment to achieving the 2050 Net-Zero greenhouse gas emission target. This involves ongoing collaboration and engagement with governments, regulatory bodies, environmental organisations, and various stakeholders. We remain dedicated to adopting innovative and responsible practices that support decarbonisation goals. Our focus is on contributing to the demand for cleaner energy by ensuring the safe, reliable, and efficient marine transportation of LNG on a global scale. As part of our strategic priority, we will continue to pursue new cleaner energy businesses and solutions. Once again, thank you for your unwavering support and partnership. Wishing you all a prosperous and joyous 2024.

Stay Healthy and Safe!

Hazrin Hasan
Vice President, Gas Business