MISC Berhad

MISC Berhad

Type	Publicly traded
Traded as	MYX: 3816
ISIN	MYL3816OO005
Industry	Energy Shipping, Maritime Solutions & Services
Founded	1968
Headquarters	Kuala Lumpur, Malaysia
Key people	Dato' Ab. Halim Mohyiddin, Chairman Yee Yang Chien, President/Group CEO
Products	Ship owning, Ship operating, Other shipping related activities, Owning and operating of offshore floating facilities as well as Marine repair, Marine conversion and Engineering & Construction works
Parent	Petronas
Website	www.misc.com.my

MISC Berhad (MYX: 3816) was incorporated in 1968 as Malaysia International Shipping Corporation Berhad and is the leading international shipping line of Malaysia. In September 2005, Malaysia International Shipping Corporation Berhad adopted its present corporate identity and changed its name to MISC Berhad. Its main shareholder is Petroliam Nasional Berhad (PETRONAS), the national oil conglomerate of Malaysia. The principal business of the Corporation consist of Ship owning, Ship operating, Other shipping related activities, Owning and operating of offshore floating facilities as well as Marine repair, Marine conversion and Engineering & Construction works. With a modern and well-diversified fleet of more than 120 vessels and a combined tonnage of more than 13,000,000 DWT.

Business speciality

MISC is a specialist in Energy Transportation. The company HQ is located at Menara Dayabumi in Kuala Lumpur, Malaysia. With 27 LNG carriers, it is currently one of the world’s leading operator of LNG fleet. Through its wholly owned subsidiary AET, MISC is one of the leading global tanker operators and a market leader in lightering operations for US Gulf ship-to-ship transfers.

MISC also delivers freighting solutions for vegetable oil and chemical products to various corners of the globe, with major trading routes that include South East Asia, the Far East, Middle East, Europe, the Indian Subcontinent and the Americas.

The company has also ventured into offshore business, offering customers a full scope of offshore floating facility services – from design to operations. Through Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), MISC provides marine repair, marine conversion, engineering and construction for a wide spectrum of oil & gas production facilities.

On 24 November 2011, MISC announced its exit from the liner business (container shipping). In its announcement through the local Bursa Malaysia stock exchange, MISC explained that the radical change in the operating dynamics of the liner industry which is driven by high operating cost and rapid changes in global trade patterns is challenging the validity of today's operating models. The company's decision was also hastened by the present difficult operating conditions which have seen the liner business suffering a total financial loss of USD789 million over the past three years, impacting the overall financial performance of MISC. ^[1]

Other Services

• Maritime Education - Akademi Laut Malaysia (Malaysian Maritime Academy) or simply known as ALAM. For over 50 years, ALAM has trained thousands of Malaysians, through a disciplined and regimented education system unique to the Academy.

The fleet

The Corporation operates a fleet of 125 vessels consisting of (as at February 2014):^[2]

• 27 LNG Carriers
  • Seri "C" - Class, 5 launched
  • Seri "B" - Class, 5 ship (452,319 DWT)
  • Seri "A" - Class, 5 ships (417,388 DWT)
  • Puteri Satu - Class, 6 ships (456,648 DWT)
  • Puteri - Class, 5 ships (367,595 DWT)
  • Tenaga - Class, 3 ships (215,248 DWT)
  • Aman - Class, 3 ships (32,909 DWT)
  • Note: Tenaga Satu and Tenaga Empat have been converted into LNG Floating Storage Units

(FSUs) for the PETRONAS LNG Regasification Facilities project in Sungai Udang, Melaka.^[3]

• 75 Petroleum Tankers
  • VLCC - Class, 13 ships (3,976,758 DWT)
  • Aframax - Class, 50 ships (5,329,472 DWT)
  • Suezmax - Class, 4 ships (631,399 DWT)
  • DP Shuttle - Class, 2 ships (210,306 DWT)
  • Panamax - Class, 1 ships (73,096 DWT)
  • CPP - Class, 5 ships (234,962 DWT)
• 22 Chemical Tankers
  • Melati Class, 1 ship (31,981 DWT)
  • Bunga A Class, 7 ships (266,000 DWT)
  • Bunga B Class, 4 ships (180,000 DWT)
  • Bunga L Class, 6 ships (114,000 DWT)
  • Bunga Kantan Class, 3 ships (59,322 DWT)
  • Others, 2 ships (40,413 DWT)
• Offshore Terminals
  • FPSO, 5 terminals
  • FSO, 5 terminals
  • MOPU, 2 units
  • FSU, 2 units
  • Semi-FPS, 1 unit

Incidents

• On 19 August 2008 at 10.09 pm,^[4] one of the MISC vessel registered as MT Bunga Melati Dua has been hijacked by a group of armed pirates at the Gulf of Aden, between Yemen and Somalia. There were 29 Malaysian nationals and 10 Philippine nationals on board the ship when the incident occurred. According to Bernama, MISC together with International Maritime Bureau (IMB) has formed a special team to tackle the problem on the attack.^[5]
• On 29 August 2008 at 9.50 pm another MISC tanker ship registered as MT Bunga Melati Lima also has been hijacked in international waters off the coast of Yemen. According to MISC press statement, there are 36 Malaysians and five Filipino temporary maintenance crew members on board, the vessel was fully laden with 30,000 Mt of petrochemicals when the pirates boarded it on Friday evening.^[6]
• On 22 January 2011 MISC tanker vessel Bunga Laurel was Hijacked by Somali pirates. The previous Container vessel Bunga Mas Lima,^[7] which now is converted as military escort vessel, has rescued all 23 crew members. All 18 pirates surrendered.^[8]

External links

References