[Splash/October 1, 2024] Malaysia’s top shipping line, MISC, has firmed up orders for two LNG carriers in South Korea.

Splash reported in July that MISC had secured newbuilding slots at Samsung Heavy Industries for a brace of 174,000㎥ units in a deal estimated at over $500m.

The shipping group announced to Bursa Malaysia the new vessels would be delivered in 2027 and go on a 15-year charter with the Malaysian state energy firm and its largest shareholder, Petronas.

The two companies have also agreed to terminate charters for three existing steam LNG carriers, Seri Ayu, Seri Angkasa and Seri Begawan, with redelivery in 2027 and 2028, as well as charter extensions for the Seri Alam and Seri Amanah until end-March 2028.

MISC counts 26 LNG carriers in its fleet, according to its website, excluding 14 newbuilds, which involve individual and joint venture orders. Early last year, Samsung delivered two 174,000㎥ ships to MISC, which are on charter to ExxonMobil’s SeaRiver Maritime.

The company said the new vessels support its strategy of rejuvenating its LNG fleet with modern and efficient vessels and its goal of achieving reduction of greenhouse gas emissions and intensity by 2030.