MISC has acquired the vessels LNG Portovenere and LNG Lerici from LNG Shipping and they start five-year time charters with a combined value of $133m in December this year and January 2019 respectively.
The acquisition and time charters represent a move into the mid-sized LNG carrier segment by the Malaysian shipowner.
“In view of the evolving marketplace, there is certainly potential for us to diversify our solutions by including mid-scale and small-scale LNG transportation especially with the growing spot market demand for LNG trading and this will enable MISC to develop our capability in the trading of multiple-size vessels as well as our reach to other global locations,” said Yee Yang Chien, president and ceo of MISC.
“These mid-sized LNG carriers also present unique opportunities that supports MISC’s efforts to venture into non-conventional LNG shipping solutions, whereby upon expiry of the charter party, these vessels will have the potential to be converted into mid-sized Floating Storage Regasification Unit (FSRU), Floating Storage Unit (FSU) or other alternative LNG ﬂoating solution projects,” he added.
MISC has a fleet of 28 LNG carriers and two FSUs.