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MISC, NYK and Mitsubishi to jointly own LNG carrier pair

Yee Yang Chien, ceo of MISC
MISC, NYK and Mitsubishi have inked an agreement to co-own two LNG carrier newbuildings for the LNG Canada project.

The two 174,000 cu m newbuildings are currently under construction at Hyundai Samho Heavy Industries (HSHI), feature XDF propulsion and scheduled for delivery in 2021.

The two vessels be chartered for 18 years to Mitsubishi subsidiary Diamond Gas International which manages the sales and marketing of Mitsubishi equity offtake of LNG volumes from US and Canada as well as from other countries around the world.

“This tri-party partnership is in line with MISC’s strategy of diversifying our business ventures to support the expansion of our third-party business portfolios and further broaden our revenue sources,” said Yee Yang Chien, president and ceo of MISC.

“We are very pleased to enter into this maiden collaboration with Mitsubishi Corporation and at the same time extend our long-standing partnership with NYK which dates to the times as co-owners of the Aman Class vessels.”

MISC has a fleet of 29 LNG carriers and two FSUs.