Tuesday, January 20, 2009

MISC halves vessel orders to 4

KUALA LUMPUR: MISC Bhd has halved its orders of chemical tankers to be built by South Korea’s SLS Shipbuilding Co Ltd from eight to four vessels.

MISC said yesterday 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.

MISC had announced in July 2007 that it had placed an order of eight double-hulled vessels of 45,000 DWT each for a total value of about US$430 million (RM1.54 billion). The first three units were to have been delivered this year and the remaining five in 2010.

It had said the vessels would expand its chemical fleet capacity and extend the geographical coverage of its operations towards increasing its market share in chemical, vegetable oil shipping and products trade.

The new vessels are to be fully IMO-compliant taking into account the new MARPOL (International Convention for the Prevention of Pollution from Ships) regulations.

Source: Edge Daily

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