The move will see the MISC transferring 13 chemical tankers and one LPG to AET to be combined with its fleet of eight clean petroleun product (CPP) tankers. All the chemical tankers and the LPG carrier are currently operated on long-term bareboat charters.
“Our chemical and CPP fleets have many customers in common and this merger enables us to offer them added value through additional capacity and flexibility,” commented Yee Yang Chien, president and ceo of MISC.
“The integration will also allow us to continue to expand our customer base and develop a range of long-term partnerships in the sector. With growth forecast in the petrochemical industry, particularly in the US and Arabian Gulf, along with the current low oil price environment, we are confident that we will see a strengthening of exports and a higher demand for product tankers in the future," he added.
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