Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

MISC charters new LNG carrier duo to ExxonMobil

Malaysia’s MISC, a unit of Petronas, said it would charter two newbuild liquefied natural gas (LNG) carriers to a unit of US energy giant ExxonMobil.

MISC’s subsidiaries Polaris LNG Three and Polaris LNG Four have secured long-term time charter contracts with ExxonMobil’s SeaRiver Maritime (SRM), according to a statement by MISC.

This deal brings the total number of contracts with SRM to four LNG carriers as the two firms signed 15-year contracts for two LNG carriers back in 2019. South Korea’s Samsung Heavy is building these LNG carriers and should deliver them in 2023.

MISC said it would charter the two new 174,000-cbm LNG carriers to SRM for a period of ten years.

The LNG shipper, through the above subsidiaries, has signed an agreement with a “reputable shipbuilder” for the construction of the two LNG carriers in South Korea, MISC said without revealing the name of the yard.

According to MISC, the new vessels would feature X-DF 2.1 engines with intelligent control by exhaust recycling (iCER) system and air lubrication system which would contribute to the reduction of greenhouse gas (GHG) emissions.

MISC said it would appoint its unit Eaglestar Shipmanagement Gas to provide project management services during the shipbuilding phase, and to take charge of the operationalization and ship management of the vessels when they join the fleet in 2026.

Most Popular

Deutsche ReGas plans to reinstall second Mukran FSRU

German LNG terminal operator Deutsche ReGas plans to reinstall a second FSRU at its Mukran LNG terminal after it terminated the charter contract for the 174,000-cbm FSRU Energos Power with the German government.

Venture Global LNG gets Calcasieu Pass approval from FERC

US LNG exporter Venture Global LNG has received approval from the US FERC to launch operations of its entire Calcasieu Pass LNG terminal in Louisiana.

Venture Global shipped 63 LNG cargoes in Q1

US LNG exporter Venture Global LNG shipped a total of 63 LNG cargoes from its Calcasieu Pass and Plaquemines LNG export terminals in the first quarter of this year.

More News Like This

Precious Shipping’s new Malaysian JV targets LNG and LPG carriers

Precious Shipping's new Malaysian joint venture with Emstraits Navigation and Lianson Fleet Group will be looking to acquire liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude tankers.

Capital sells LNG carrier for scrap

Greece's Capital Gas has sold one steam liquefied natural gas (LNG) carrier for scrap, according to brokers.

ARC Resources seals long-term LNG SPA with ExxonMobil

Canadian gas producer ARC Resources has signed a long-term sale and purchase agreement with a unit of US energy giant ExxonMobil for volumes from the Cedar LNG project in Canada.

MISC expects LNG freight rates to remain soft in 2025

Malaysia’s LNG shipper MISC, a unit of Petronas, expects LNG carrier rates to remain soft this year due to a high number of newbuilds coming into the market, but rates are expected to recover post-2026.