MISC secures time charter parties with PTT on VLEC newbuild duo

MISC Berhad (MISC) has secured long-term time charter parties with PTT Public Company Limited (PTT) for two newbuild very large ethane carriers (VLECs).

The VLECs will be serving the transportation needs of PTT’s potential offtake from ethane export facilities in the United States of America to Thailand.

“The TCP will contribute towards the expansion of MISC’s portfolio in the global ethane export market,” Zahid Osman, president and group CEO of MISC Berhad, highlighted.

This move is part of MISC’s strategy to rejuvenate its portfolio, the company said, adding that once completed, these 100,000 cbm VLECs will rank among the largest of their kind in the world.

The vessels, designed with dual-fuel ethane propulsion engines and equipped with Shaft Generator technology, will be constructed by HD Hyundai Heavy Industries with scheduled delivery by the end of 2028.

“Beyond their primary role of transporting ethane, the VLECs are also capable of carrying ethylene and liquefied petroleum gas in the membrane cargo tanks at a cryogenic temperature of -104 celsius via the GTT MARK III containment system,” the company said in