Wise move by MISC to cut ship order

PETALING JAYA: MISC Bhd’s decision to cut by half its order for eight chemical tankers with SLS Shipbuilding Co Ltd is considered a smart move in view of the uncertain demand outlook this year.

MISC had, in July 2007, confirmed an order for eight 45,000 dead weight tonne (dwt) chemical or product oil tankers worth a total of US$430mil with SLS of South Korea.