# MISC accepts PETRONAS award for five LNG carrier charters

- **Source:** https://pelavox.com/misc-accepts-petronas-lng-carrier-charter-award/
- **Publisher:** pelavox. (The voice of shipping)
- **Author:** pelavox. Newsroom
- **Published:** 2026-10-12T11:46:29+00:00
- **Updated:** 2026-10-12T11:46:29+00:00
- **Section:** Shipping / Gas Shipping
- **Type:** News
- **Topics:** Hudong-Zhonghua Shipbuilding, MISC Berhad, PETRONAS, PETRONAS LNG

Malaysian shipping company MISC Berhad has accepted a Letter of Award (LOA) from PETRONAS LNG Ltd. for the long-term charter of five newbuild liquefied natural gas (LNG) carriers, with operations expected to begin in 2030.

The Letter of Award, accepted on 7 October 2026, sets out the principal terms and conditions for the definitive time charter agreements covering the five vessels. Each LNG carrier is expected to be employed under a firm 20-year charter arrangement, with MISC providing the shipping services through its wholly owned subsidiaries.

In connection with the project, MISC plans to enter into shipbuilding contracts with China’s Hudong-Zhonghua Shipbuilding (Group) Co. Ltd. for the construction of the five LNG carriers. The announcement confirms the acceptance of the charter award, while the definitive charter parties and shipbuilding contracts remain to be concluded.

## New vessels to support PETRONAS LNG operations

The project is intended to support PETRONAS’ anticipated growth in LNG production while contributing to MISC’s ongoing fleet renewal programme. According to the company, the introduction of modern LNG carriers is aimed at improving vessel efficiency and reducing greenhouse gas emissions and overall emissions intensity.

PETRONAS LNG Ltd., incorporated in Labuan, Malaysia, is involved in LNG trading, vessel chartering and LNG transportation. It is an indirect wholly owned subsidiary of Petroliam Nasional Berhad (PETRONAS), which is also the holding company of MISC.

Hudong-Zhonghua Shipbuilding, part of China State Shipbuilding Corporation, specialises in the design and construction of several vessel types, including large LNG carriers, container ships and chemical tankers.

## Financial and regulatory considerations

MISC stated that the project does not require approval from its shareholders or government authorities. The company also expects no material impact on its financial position for the year ending 31 December 2026, including earnings per share, gearing and net assets per share.

The proposed charter arrangements involve commercial, construction-related and operational risks associated with LNG shipping. MISC said it intends to manage these risks through its established controls and operational experience.

Given the relationship between MISC and PETRONAS, the company also disclosed the interests of relevant directors and major shareholders. PETRONAS is a major shareholder of MISC and the holding company of PETRONAS LNG Ltd., while certain MISC directors hold positions connected to the wider PETRONAS group.

MISC’s Board of Directors, excluding directors with declared interests in the transaction, concluded that the project is fair, reasonable and on normal commercial terms, and is not detrimental to minority shareholders.

The acceptance of the Letter of Award marks the initial contractual stage of the project, with the definitive charter agreements and shipbuilding contracts expected to follow.

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Cite as: "MISC accepts PETRONAS award for five LNG carrier charters", pelavox., 12 October 2026, https://pelavox.com/misc-accepts-petronas-lng-carrier-charter-award/