Malaysia’s MISC says LNG earnings down in Q3

Malaysia’s LNG shipper MISC, a unit of Petronas, said its LNG business logged a drop in operating profit and revenue in the third quarter of this year. The shipping firm said its gas assets and solution business, which includes a fleet of LNG and ethane carriers, posted third-quarter revenue of 674.2 million ringgit ($150 million),…

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Malaysia’s LNG shipping player MISC, a unit of Petronas, said its LNG business logged a drop in operating profit and revenue in the second quarter of this year. MISC also expects spot LNG carrier rates to remain volatile in the near term because of uncertainties around the Strait of Hormuz situation.