| Type | Public listed company (MYX: 3816) |
|---|---|
| Industry | Transport, Logistics, Warehousing, Retail |
| Founded | 1968 |
| Headquarters | Kuala Lumpur, Malaysia |
| Key people | Chairman: Tan Sri Dato' Seri Mohd Hassan bin Marican CEO: Amir Hamzah bin Azizan |
| Products | Ship owning, Ship operating, Other shipping related activities, Owning and operating of offshore floating facilities as well as Marine repair, Marine conversion and Engineering & Construction works |
| Website | www.misc.com.my |
MISC Berhad was incorporated in 1968 as Malaysia International Shipping Corporation Berhad and is the leading international shipping line of Malaysia. In September 2005 Malaysia International Shipping Corporation Berhad adopted its present corporate identity and changed its name to MISC Berhad. Its main shareholder is Petrolium Nasional Berhad (PETRONAS), the national oil conglomerate of Malaysia. The principal business of the Corporation consist of Ship owning, Ship operating, Other shipping related activities, Owning and operating of offshore floating facilities as well as Marine repair, Marine conversion and Engineering & Construction works. With a modern and well-diversified fleet of 110 vessels and a combined tonnage of more than 8,000,000 metric tons deadweight (DWT).
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MISC is a specialist in Energy Transportation. The company HQ is located at Menara Dayabumi in Kuala Lumpur, Malaysia. With 29 LNG carriers, it is currently the world’s largest single owner/operator of LNG fleet.[1] Through its wholly owned subsidiary AET, MISC is one of the leading global tanker operators and the second largest owner-operator of Aframax tankers in the world. It counts amongst its customers the major oil companies and is the premier lightering operator in the US Gulf. MISC’s 45 crude oil and 5 product petroleum tankers of between 6,000 DWT – 299,999 DWT each carry crude oil, unleaded gasoline, gas oils and jet fuel.
The company has also ventured into offshore business, offering customers a full scope of offshore floating facility services – from design to operations. In 2007, MISC achieved a significant milestone in realising Malaysia's first deepwater FPSO, FPSO Kikeh. Through Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE), MISC provides marine repair, marine conversion, engineering and construction for a wide spectrum of oil & gas production facilities.
MISC also transports vegetable oils and chemical in bulk. Its chemical tankers are capable of segregating up to 35 different grades of cargo onboard and are equipped with containment and handling systems.
With its 19 containerships, MISC's Liner business focuses on the ASEAN in bound and outbound trades through an extensive network of agencies around the globe delivering cargo to more than 120 Points-of-Sales in over 45 countries. MISC has also entered into strategic partnerships with shipping consortia to expand its offerings and participated in e-portals to provide e-business solutions to its customers.
On 24th November 2011, MISC announced its exit from the liner business (container shipping). In its announcement through the local Bursa Malaysia stock exchange, MISC explained that the radical change in the operating dynamics of the liner industry which is driven by high operating cost and rapid changes in global trade patterns is challenging the validity of today's operating models. The company's decision was also hastened by the present difficult operating conditions which have seen the liner business suffering a total financial loss of USD789 million over the past three years, impacting the overall financial performance of MISC. The company anticipates cessation of the liner business to be by end June 2012. [2]
The Corporation’s 120 fleet of vessels consist of :
The company also has 8 Offshore terminals