MISC Secures Long-Term Contract to Own, Operate Two Offshore Loading Shuttle Tankers From Statoil
June 22 2017 - 6:43AM
Dow Jones News
By Yantoultra Ngui
KUALA LUMPUR, Malaysia--Malaysian shipping company MISC Bhd.
(3816.KU) said Thursday that it has secured a long-term contract to
own and operate two specialist offshore loading shuttle tankers
from Statoil ASA.
MISC, which is one of the largest shippers of liquefied natural
gas in the world, said the contract was for operations in oilfields
on the Norwegian Continental Shelf of the North Sea, Norwegian Sea
and the southern Barents Sea.
MISC said Statoil has yet to decide on the charter period, which
was could be either for five years with an estimated contract value
of $200 million, or seven years for $275 million. Statoil will
announce the decision by Dec. 31, 2017, MISC added.
MISC said the contract isn't expected to have any material
impact to its earnings per share, gearing and net assets for this
year.
Shares of MISC ended Thursday 0.9% lower at MYR7.42 prior to the
announcement. Shares of the company have climbed 1.9%
year-to-date.
Write to Yantoultra Ngui at Yantoultra.Ngui@wsj.com.
(END) Dow Jones Newswires
June 22, 2017 06:28 ET (10:28 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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