Recovery of tanker freight rates good for MISC

MISC LNG tanker Camellia

PETALING JAYA: Anticipation of a better year ahead for crude oil tankers will be a boon for MISC Bhd, a provider of international energy-related maritime solutions and services.

CGS-CIMB Research in its latest report said potential re-rating catalysts for MISC included a strong recovery in the crude tanker freight rates this year. This is given that the Organisation of the Petroleum Exporting Countries and its allies (Opec+) and non-Opec nations are likely to raise output in 2022 on the back of very strong price stimulus, it noted.