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MISC first half profits up 29% on stronger tanker market

The healthier tanker market helped boost MISC’s first half operating profit by 29% to MYR1.14bn ($295.5m).

Marcus Hand, Editor

August 4, 2015

1 Min Read
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The Malaysian shipowner said that revenues for the first half of 2015 were also up at MYR5.09bn, 5% higher than the MYR4.83bn in recorded in the same period a year earlier.

MISC attributed the rise in operating profit to higher revenues from petroleum shipping and offshore combined with lower operating costs and a smaller chemical tanker fleet. However, its core LNG shipping business saw a decline in both profit and revenues.

Looking to the second half of 2015 the company said its financial performance would be underpinned recurring income from long term LNG and offshore contracts. It said that the strength of it petroleum shipping business was likely to carried in the second half of 2015 barring a cutback in global oil production.

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About the Author

Marcus Hand

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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