While 2017 was a tough year and with only slight prospects of recovery this year, the gradual recovery in the oil market suggests that the market will start to improve in 2019, MISC said.
Oil and gas focussed Malaysian shipping group MISC saw almost third quarter revenue growth to MYR2.32bn ($547.9m) as the lease commencement of three new LNG vessels, a favourable judgement from the Gumusut-Kakap SemiFloating Production System (L)...
Malaysian shipping company MISC continues to divest non-core assets, disposing of its 25% stake in Trans-Ware Logistics (TWL), a Sri Lanka joint venture.
Malaysian shipowner MISC is exiting the tank terminal business with the sale of its 45% stake in Centralised Terminals Sdn Bhd (CTSB).
Continued turbulence and what it calls the global oil market "rebalancing" impacted on the results of MISC.
MISC saw first quarter net profit rise 18% to MYR676.2m ($155.9m) from MYR571m in the previous corresponding period on a 25% spike in revenue to MYR2.98bn MYR2.39bn previously.
Malaysian energy shipping company MISC could see contributions from its floating production storage and offloading (FPSO) business rise by a third if the deals it is pursuing flow through, local reports said.
Tanker owner AET expects to add an LNG dual fuel option to half its fleet in the coming years.
Malaysian oil and gas shipping firm MISC remains cautious on expansion despite the stabilising oil price and asset expansion will only be driven by secured long-term employment or contracts, local media reported.
