MISC’s unit bags US$245 million contract in Brazil

KUALA LUMPUR: MISCl Bhd’s unit, AET Tanker Holdings Sdn Bhd (AET), has bagged a US$245 million contract for shuttle tankers service from Brazil Shipping Ltd, a Shell Group entity. (US$1 = RM4.11).

In a statement here yesterday, MISC said the long term contracts was for three Suezmax class dynamic positioning shuttle tankers (DPSTs) in which AET will own and operate for operations in international and Brazilian waters.

The charter is expected to commence in 2022.

MISC president/group chief executive officer Yee Yang Chien said: “The award of these longterm time charter contracts for 3 Suezmax class DPSTs is a result of MISC’s continuous focus on our growth strategy of investing in quality assets on demand for long term charters to premium customers for longterm secured revenue streams.

AET is the petroleum shipping unit of MISC, specialising in the global ocean transport of petroleum. — Bernama