Malaysia’s Petronas has signed a long-term time charter agreement with fellow Malaysian shipping group MISC for five newbuild LNG carriers with a capacity of 174,000 cbm each.
The 20-year agreement comes after MISC finalised shipbuilding contracts with Hudong-Zhonghua Shipbuilding in January and February 2026. The vessels are set to be built in Shanghai, with charter operations expected to begin progressively between 2029 and 2030.
Under the agreement, MISC will oversee the full project management process during the construction phase before taking charge of vessel operationalisation and ship management once deliveries start in 2029.
The upcoming LNG carriers will feature several technologies aimed at improving operational and environmental performance. Among them are the latest XDF2.1 propulsion systems, shaft generators designed to optimise fuel efficiency during voyages, and onboard reliquefaction plants intended to manage boil-off gas more effectively.
Commenting on the agreement, Adif Zulkifli, EVP and CEO of Petronas’ gas and maritime business, said the partnership further reinforces the company’s position within the global LNG sector.
“By aligning our growth ambitions with MISC’s maritime expertise, we are strengthening the integrated capabilities that support Petronas’ position as a trusted and reliable global LNG supplier,” he stated.
