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.

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