MISC halves tanker order

Malaysia’s largest shipping company, MISC Bhd, has halved its orders of chemical tankers to be built by South Korea?s SLS Shipbuilding from eight to four vessels. MISC said the revision was mutually agreed between the company and SLS after amicable negotiations. MISC did not reveal the final contract sum for the four vessels.

The order for the eight 45,000 dwt double-hulled chemical tankers had been placed in July 2007 at a total value of about $430 million (RM1.54 billion). The first three units were to have been delivered this year and the remaining five in 2010. The new vessels are to be fully IMO-compliant taking into account the new MARPOL regulations.