Malaysian International Shipping Corp.

MISC Group
Company typePublic limited company
MYX: 3816
ISINMYL3816OO005
IndustryEnergy shipping, Maritime services
Founded1968
FoundersRobert Kuok and Frank Tsao
HeadquartersKuala Lumpur, Malaysia
Key people
Datuk Abu Huraira Abu Yazid, Chairman
Captain Rajalingam Subramaniam, President & Group CEO
Hazrin Hasan, Vice President (Gas Assets & Solutions)
Alexander James Brigden, Vice President (Offshore Business)
Raja Azlan Shah Raja Azwa, Vice President (Finance)
Ausmal Kardin, Vice President (Legal, Compliance Secretarial & Compliance)
Shariza Jaffar, Vice President (Human Resource Management)
Captain Raja Sager Muniandy, Vice President (Group HSSE)
ServicesGas assets & solutions, petroleum & product shipping, offshore business, marine & heavy engineering, integrated marine services, port management and maritime education & training
Websitemiscgroup.com

MISC Group (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. With over 50 years of experience, MISC's principal businesses include energy shipping, offshore floating solutions, marine repair and conversion, integrated marine services, port management and maritime services, and maritime education and training. Fleet consists of more than 100 owned and in-chartered vessels with a combined deadweight tonnage capacity of over 13 million tonnes. MISC Group is a proud constituent of the DJSI Emerging Markets Index and FTSE4Good Bursa Malaysia Index, a testament to our strong sustainability performance and ESG practices.

History

Malaysia International Shipping Corporation was founded in 1968 by Robert Kuok on request of the Malaysian government. Kuok, who had no experience in the business, sought the help of the Hong Kong-Chinese shipping magnate, Frank Tsao.[1] For his help with establishing the business, Tsao was conferred the title of Tan Sri by the King of Malaysia.[2]

Business speciality

MISC is a specialist in Energy Transportation.[clarification needed] The company HQ is located at Menara Dayabumi in Kuala Lumpur, Malaysia. With 29 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[citation needed] and a market leader in lightering operations for US Gulf ship-to-ship transfers.[citation needed]

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. [3]

Fleet of Assets

MISC Group fleet consists of more than 100 owned and in-chartered vessels with a combined deadweight tonnage capacity of over 13 million tonnes.[4]

  • Gas Carriers
    • Membrane-type LNGC, 25 vessels
    • Moss-type LNGC, 5 vessels
    • Very Large Ethane Carrier (VLEC), 6 vessels
    • LNG Bunker Vessel (LBV), 1 vessel
    • Floating Storage Unit (FSU), 2 vessels ** 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, Malacca.[5]
  • Petroleum Tankers
    • Suezmax Tanker, 6 vessels
    • Very Large Crude Carrier (VLCC), 10 vessels
    • Aframax Tanker, 18 vessels
    • Dynamic Positioning Shuttle Tanker (DPST), 17 vessels
    • Modular Capture Vessel (MCV), 2 vessels
    • Lightering Support Vessel (LSV), 10 vessels
    • Chemical Tanker, 3 vessels
    • LR2 Tanker, 2 vessels
  • Offshore Assets
    • FPSO, 6 units
    • FSO, 5 units
    • Semi-FPS, 1 unit

See also

References

  1. ^ Kuok, Robert (27 November 2017). "How I launched Malaysia's national shipping line". South China Morning Post. Retrieved 15 August 2019.
  2. ^ Yeung, Henry Wai-Chung (2004). Chinese Capitalism in a Global Era: Towards a Hybrid Capitalism. Routledge. p. 102. ISBN 978-1-134-39050-2.
  3. ^ "MISC Announces Its Exit from the Liner Business". Archived from the original on 20 December 2015. Retrieved 6 December 2015.
  4. ^ "MISC Website Fleet List".
  5. ^ "MALAYSIA'S FIRST LNG RE-GASIFICATION TERMINAL REACHES COMPLETION". Petronas.
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