MISC looking at VLCCs and FPSOs

From this SPLASH24/7 article:

Malaysia’s top shipping line MISC is in the market for secondhand crude tankers, so long as they can be backed by charter contracts.

Yee Yang Chien, MISC’s new ceo, held a recent briefing session with analysts at which he talked about the current buoyancy in the crude tanker sector, which has seen VLCC rate top $100,000 a day in the past week.

“The message was to expect MISC to pursue asset growth opportunities in the next one to two years, in addition to benefiting from the ongoing strength in tanker rates,” wrote CIMB Securities analyst Raymond Yap.

There seems to be a lot of confidence coming from shipbuilders, with a bullish view of the future.


About Scott

Live next to Chevron refinery. Lots of petroleum consultants in the area. I am interested in learning more about the industry. Also, interested in finance, business, and investing in world markets.
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