Malaysian shipping group MISC Bhd has been awarded a long-term charter contract by Malaysia LNG Sdn Bhd (MLNG), the operator of Petronas’ liquefied natural gas (LNG) export facilities.
The agreement covers a firm charter period of 10 years, with commencement expected in 2028, providing the state-linked carrier with multi-year revenue visibility in the LNG shipping segment.
The deal underscores the growing demand for dedicated LNG carrier capacity as Malaysia’s state-owned energy giant Petronas expands its export network.
MISC, a key player in the regional shipping market, benefits from the long-term nature of the contract, which helps hedge against volatility in spot freight rates.
The 2028 start date aligns with the ramp-up of new LNG supply commitments, including recent agreements with Japanese buyers.
This development follows a wave of long-term LNG sale and purchase agreements signed by Petronas LNG Ltd, including a recent deal with Japan’s Shizuoka Gas Co Ltd. These contracts secure offtake for future production, driving the need for reliable transport solutions.