MISC orders four more tankers

The Malaysia International Shipping Corporation (MISC), the world’s biggest owner of liquefied natural gas (LNG) tankers, has placed a new order to build four product tankers. The contract value for the 38,000 dwt tankers is estimated collectively to be in the region of $200 million.

STX Shipbuilding of South Korea’s will build the four ship series and MISC will start receiving the tankers in 2009. MISC, which is 62% owned by state energy firm Petroliam Nasional Bhd, had signed a similar contract with STX in April at a cost of $180 million. It is understood that the terms of the new order is similar to the agreement reached with STX for the April purchase.