MISC sells LNG carrier duo for scrap

Malaysia’s LNG shipping player MISC, a unit of Petronas, has sold two steam liquefied natural gas carriers for scrap, according to brokers.

Brokers said the LNG vessels in question are the 1995-built 130,300-cbm, Puteri Nilam, and the 1995-built 130,300-cbm, Puteri Delima.

The vessels have been reportedly sold to an undisclosed demolition buyer for delivery to Bangladesh.

The pricing details of the two sales have not been revealed.

According to VesselsValue data, the demolition value of each of the steam LNG carriers is about $13 million.

Both of the vessels were located in Malaysia on Monday, their AIS data shows.

Puteri Nilam is anchored offshore the Petronas-operated regasification terminal in Sungai Udang, Melaka, while Puteri Delima is docked near the Petronas-operated Sepangar Bay LPG terminal in Sabah.

Sales of steam turbine LNG carriers for demolition picked up this year, reaching a record high.

Before this sale, brokers reported that at least eleven steam LNG carriers were sold for demolition this year.

MISC is one of the largest operators of LNG carriers and most of them are on long-term charters.

The shipping firm said in August that it operates a fleet of 28 LNG carriers, including these two steam vessels and one 25 percent-owned LNG carrier as part of the QatarEnergy joint venture with NYK, K-Line, and CLNG.

In addition to its operational vessels, MISC has 18 LNG carriers on order, including 11 vessels as part of the QatarEnergy joint venture.

Last year, MISC ordered two LNG carriers from South Korea’s Samsung Heavy. These vessels will serve Petronas under charter deals.

MISC expects six more LNG carrier deliveries in 2025, eight in 2026, and four in 2027.

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