SLS Bags US$430m MISC Order

MISC Bhd said it has ordered eight chemical/product oil tanker newbuildings of 45,000 tonnes each.

These orders have been placed with SLS Shipbuilding Co Ltd of South Korea for a total value of about US$430 million (RM1.5 billion), it told Bursa Malaysia yesterday.

The first three units of the chemical/product oil tankers will be delivered in 2009 and the remaining five will be delivered in 2010.

“This is aimed at expanding MISC’s chemical fleet capacity and extending the geographical coverage of its operations for the purpose of increasing its market share in chemical, vegetable oil shipping and products trade,” the company said.

With the expanded chemical fleet which are all double-ulled and fully IMO (International Maritime Organisation) compliant taking into account the new Marpol (International Convention for the Prevention of Pollution from Ships) regulations, MISC is well placed to service the growing Malaysian palm oil transportation needs, it added.

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