MISC Berhad has confirmed a bulk order for LNG carriers from a long-standing Chinese shipbuilder. These new vessels have secured long-term charter contracts and are expected to commence operations in four years.
On October 8, MISC announced via the stock exchange that it had received a Letter of Award (LOA) from Petronas LNG Ltd. (PLL) to provide long-term time charter services using five newly built LNG carriers. MISC will enter into shipbuilding contracts with Hudong-Zhonghua Shipbuilding to construct these five LNG carriers.
According to the letter of award, the project entails a fixed charter period of 20 years per LNG carrier, with operations expected to commence in 2030; MISC will provide LNG transportation services through its wholly-owned subsidiary.
MISC stated that the time charter contracts covered by the project entail commercial, project execution, and operational risks inherent to the shipping industry; MISC will mitigate these through established controls, experience, and operational expertise. The project does not require approval from MISC shareholders or any government regulatory authorities.
MISC emphasizes that this project is a strategic move designed to capitalize on opportunities arising from the anticipated growth in PETRONAS’s LNG production capacity; simultaneously, it supports MISC’s LNG carrier fleet renewal program through the introduction of modern, high-efficiency vessels, thereby reducing greenhouse gas emissions and lowering overall emission intensity.
On January 30, 2026, MISC signed a contract with Hudong-Zhonghua for an initial batch of 3+3 174,000-cubic-meter LNG carriers, with delivery expected in the first quarter of 2029. On February 27, the two parties signed for an additional 2+2 vessels of the same capacity. In late July, they extended their collaboration with a new vessel design by signing a contract for one 18,700-cubic-meter LNG carrier; this vessel has already been secured under a long-term charter agreement with a fixed ten-year term, and is expected to be chartered by Malaysia LNG (MLNG) starting in 2028.
The 174,000-cubic-meter LNG carrier is a flagship vessel of the fifth-generation “Changheng Series,” independently developed and designed by Hudong-Zhonghua. It boasts outstanding advantages such as safety, reliability, eco-friendliness, high efficiency, and excellent economic performance. Featuring over 20 proprietary core technologies, the vessel achieves world-leading standards across key performance metrics, including energy efficiency, environmental indicators, cargo containment, and operational economics.
The 18,700-cubic-meter LNG carrier marks the first time Hudong-Zhonghua has undertaken the construction of a membrane-type LNG carrier of this size class; it is also China’s first small-scale LNG carrier to utilize membrane-type containment system technology, featuring a compact and highly energy-efficient layout, flexible ship-shore compatibility, and excellent cryogenic insulation performance.
Established in 1968 and a subsidiary of PETRONAS, MISC has evolved into a diversified maritime conglomerate and a major player in the global shipping and energy maritime services sectors. Its fleet comprises 31 LNG carriers—including vessels held through joint ventures—and it has 15 vessels currently under construction, 11 of which are LNG carriers (with Hudong-Zhonghua and Samsung Heavy Industries building six and five vessels, respectively).
As a pioneer in China’s LNG carrier sector, Hudong-Zhonghua leverages its modern smart shipyard and lean management system to maintain a leading position in large-scale construction capabilities; it has delivered eight LNG carriers so far this year (as of September 24) and over 60 vessels to date.
Excluding the five vessels for which MISC is set to place orders, Hudong-Zhonghua has secured contracts for a total of 20 LNG carriers (13 plus 7) this year; the shipyard boasts a robust orderbook, with production schedules extending beyond 2030.