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MISC bags US$245m in long-term charter contracts from Shell

06 Dec 2019 / 14:08 H.

PETALING JAYA: MISC Bhd’s wholly-owned subsidiary, AET Tanker Holdings Sdn Bhd has been awarded three long-term time charter contracts valued at US$245 million (RM1.02 billion) by Brazil Shipping I Ltd, a Shell Group entity.

AET is the petroleum shipping unit of MISC and specialises in the global ocean transport of petroleum.

The group told Bursa Malaysia, with the contract, AET will own and operate these newbuilding Suezmax class dynamic positioning shuttle tankers for operations in international and Brazilian waters and that the charter is expected to commence in 2022.

MISC stated that the contract will not have any effect on the issued and paid up share capital and substantial shareholding in MISC.

The contract is also not expected to have any material impact to the earnings per share, gearing and net assets per share of the MISC Group for the financial year ending Dec 31, 2019.

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