KUALA LUMPUR: MISC Bhd
's joint venture with Avenir LNG Ltd has been awarded a time charter party by Petronas LNG Sdn Bhd for the provision of a liquefied natural gas bunker vessel for Malaysian and Singaporean operations.
The vessel will be chartered by Petronas LNG for three years, expected to commence in the first quarter of 2020 for an estimated contract value of US$28mil (RM117mil).
ISC said in a stock exchange filing that it will form a joint venture company with Avenir called Future Horizon Pte Ltd to manage the commercial operations of the vessel.
The JV company will be 51% owned by MISC with 49% going to Avenir.
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