MISC units ink 15-year time charter parties

KUALA LUMPUR: MISC Bhd’s indirect wholly-owned subsidiaries have signed time charter parties with Qatar’s state-owned energy firm for the charter of three newbuild liquefied natural gas (LNG) carriers.

In a bourse filing, MISC said the indirect units, namely Polaris LNG Five Pte Ltd (Polaris 5), Polaris LNG Six Pte Ltd (Polaris 6) and Polaris LNG Seven Pte Ltd (Polaris 7) have signed the charters with QatarEnergy for a firm period of 15 years from 2026 onwards.

The vessels will be built by Samsung Heavy Industries Co Ltd.

“The contracts do not have any effect on the issued and paid-up share capital and substantial shareholding in MISC and are also not expected to have any material impact on the earnings per share, gearing and net assets per share of the group for the financial year ending Dec 31, 2024,” said MISC.