PETALING JAYA: MISC Group has announced a significant step forward in its energy transition strategy through petroleum and product shipping arm AET, with the signing of shipbuilding contracts for two liquefied natural gas (LNG) dual-fuel Suezmax vessels.
These vessels will operate under long-term time charter party (TCP) agreements, reinforcing financial resilience and supporting the group’s ambition for sustainable, disciplined growth. The vessels will expand MISC’s growing dual-fuel fleet operating worldwide. With these orders, MISC will have dual-fuel capability in all the tanker sectors it operates in – Aframaxes, shuttle tankers, Suezmaxes and very large crude carriers.
In April 2024, MISC progressed into ammonia dual-fuel technology with the signing of a TCP for a series of Aframaxes. Together, these initiatives form a deliberate dual-fuel energy pathway, leveraging LNG as a proven transitional solution while preparing for future zero-carbon operations through ammonia.
“This milestone reinforces MISC Group’s commitment to advancing the energy transition and achieving our GHG reduction ambitions. Today our fleet stands at 106 vessels. With the addition of these two LNG dual-fuel Suezmax tankers, MISC Group will have 21 newbuilds progressing through its fleet renewal pipeline and scheduled to enter our fleet over the next two to three years. This represents one of the most extensive and forward-leaning renewal cycles in our history, reflecting a strategy that extends well beyond modernisation
“It is a deliberate strategy to strengthen long-term cashflow resilience and rejuvenate our portfolio with newer and more energy efficient vessels, ensuring sustained value creation for our shareholders.
“Our investments in dual-fuel technologies position us at the forefront of innovation, ensuring we remain competitive while contributing impactfully to global decarbonisation efforts,” MISCGroup president and CEO Zahid Osman.
MISC Group’s strategic investments reinforce its commitment to being a future-ready maritime leader, delivering lower-carbon solutions and enhancing operational robustness across market cycles.
