Malaysia’s LNG shipping player MISC, a unit of Petronas, expects LNG carrier charter rates to gradually improve in 2026 as increasing global liquefaction capacity helps rebalance market fundamentals.
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French energy giant TotalEnergies said on Monday that Papua LNG has achieved "major" contractual and commercial milestones, marking "decisive" steps towards a final investment decision. These include completing the EPC tendering process and transferring Papua LNG operatorship to US energy giant ExxonMobil, operator of the PNG LNG project.
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.
Malaysian LNG shipping firm MISC has ordered one 18,700-cbm LNG carrier from China's Hudong-Zhonghua, backed by a 10-year charter deal with a unit of its parent Petronas.
Malaysia's MISC and Japan's K Line have secured a second long-term time charter deal from Norway’s Northern Lights, a joint venture consisting of Equinor, Shell, and TotalEnergies, for an additional newbuild LNG-powered liquefied CO2 vessel.