MISC Berhad

MISC Berhad (MYX:3816) was incorporated in 1968 asMalaysia International Shipping Corporation Berhad and is the leading international shipping line ofMalaysia. In September 2005, Malaysia International Shipping Corporation Berhad adopted its present corporate identity and changed its name to MISC Berhad. Its main shareholder is Petroliam 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 and construction works. With a fleet of more than 120vessels and a combined tonnage of more than 13,000,000 DWT.

MISC Group

Company type	Public limited company
Traded as	MYX:3816
ISIN	MYL3816OO005
Industry	Energy shipping, Maritime services
Founded	1968
Founders	Robert Kuok andFrank Tsao
Headquarters	Kuala Lumpur,Malaysia
Key people	Datuk Abu Huraira Abu Yazid, Chairman Zahid Osman, President & Group Chief Executive Officer (MISC Berhad), Vice President, Petroleum & Products (MISC Berhad), President & Chief Executive Officer, (AET) Hazrin Hasan, Vice President (Gas Assets & Solutions) Alexander James Brigden, Vice President (Offshore) Mohd Nazir Mohd Nor, Vice President (Marine and Heavy Engineering, MISC Berhad), Managing Director & Chief Executive Officer, (Malaysia Marine and Heavy Engineering Holdings Berhad) Mohd Denny Mohd Isa, Vice President (Marine Services) Raja Azlan Shah Raja Azwa, Chief Officer (Strategy & Sustainability) Afendy Mohamed Ali, Chief Officer (Finance) Noridah Khamis, (General Counsel) Ruzila Binti Idin, Chief Officer (Human Resources)
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	miscgroup.com

History

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Malaysia International Shipping Corporation was founded in 1968 byRobert Kuok on request of the Malaysian government. Kuok, who had no experience in the business, sought the help of the Hong Kong-Chinese shipping magnate,Frank Tsao.^[1] For his help with establishing the business, Tsao was conferred the title ofTan Sri by the King of Malaysia.^[2]

Business speciality

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MISC is a specialist in Energy Transportation.^{[clarification needed]} The company HQ is located at Menara Dayabumi in Kuala Lumpur, Malaysia. With 29LNG carriers, it is currently one of the world's leading operator of LNG fleet. Through its wholly owned subsidiaryAET, MISC is one of the leading global tanker operators^{[citation needed]} and a market leader in lightering operations forUS Gulf ship-to-ship transfers.^{[citation needed]}

MISC also freights vegetable oil and chemical products, with major trading routes that include South East Asia, the Far East, Middle East, Europe, the Indian Subcontinent and the Americas.

The company has also ventured intooffshore business, offering customers a full scope of offshore floating facility services – from design to operations. ThroughMalaysia 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.

On 24 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.^[3]

Other services

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Maritime Education

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Malaysian Maritime Academy

The fleet

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The corporation operates a fleet of 125 vessels consisting of (as at February 2014):^[4]

LNG Carriers
- Seri "C" - Class, 5 launched
- Seri "B" - Class, 5 ship (452,319 CBM)
- Seri "A" - Class, 5 ships (417,388 CBM)
- Puteri Satu - Class, 6 ships (456,648 CBM)
- Puteri - Class, 5 ships (367,595 CBM)
- Tenaga - Class, 3 ships (215,248 CBM)
- Aman - Class, 2 ships (32,909 CBM)
- Note: Tenaga Satu and Tenaga Empat have been converted into LNG Floating Storage Units

(FSUs) for the Petronas LNG Regasification Facilities project in Sungai Udang, Malacca.^[5]

Petroleum Tankers
- VLCC - Class, 13 ships (3,976,758 DWT)
- Aframax - Class, 50 ships (5,329,472 DWT)
- Suezmax - Class, 4 ships (631,399 DWT)
- DP Shuttle - Class, 2 ships (210,306 DWT)
- Panamax - Class, 1 ships (73,096 DWT)
- CPP - Class, 5 ships (234,962 DWT)
22 Chemical Tankers
- Melati Class, 1 ship (31,981 DWT)
- Bunga A Class, 7 ships (266,000 DWT)
- Bunga B Class, 4 ships (180,000 DWT)
- Bunga L Class, 6 ships (114,000 DWT)
- Bunga Kantan Class, 3 ships (59,322 DWT)
- Others, 2 ships (40,413 DWT)
Offshore Assets
- FPSO, 5 units
- FSO, 5 units
- MOPU, 2 units
- Semi-FPS, 1 unit

Incidents

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On 19 August 2008 at 10.09pm,^[6] one of the MISC vessel registered as MT Bunga Melati Dua has been hijacked by a group of armed pirates at the Gulf ofAden, betweenYemen andSomalia. There were 29Malaysian nationals and 10Philippine nationals on board the ship when the incident occurred. According toBernama, MISC together withInternational Maritime Bureau (IMB) has formed a special team to tackle the problem on the attack.^[7]
On 29 August 2008 at 9.50 pm another MISCtanker ship registered as MT Bunga Melati Lima also has been hijacked in international waters off the coast ofYemen. According to MISCpress statement, there are 36Malaysians and fiveFilipino temporary maintenance crew members on board, the vessel was fully laden with 30,000Mt ofpetrochemicals when the pirates boarded it on Friday evening.^[8]
On 22 January 2011 MISC tanker vessel Bunga Laurel was Hijacked by Somali pirates. The previous Container vessel Bunga Mas Lima,^[9] which now is converted as military escort vessel, has rescued all 23 crew members. All 18 pirates surrendered.^[10]
On 26 July 2012,Bunga Alpinia, one of MISC oil tankers, caught fire while filling methanol in Labuan'sPetronas Chemicals Group Berhad's jetty at 2.32am after being struck by a lightning during the bad weather. Beside the vessel itself, bulk vessel, MVHeroic, also were closed to that vessel. Because it was berthed nearRancha-Rancha village, a series of mega explosions were heard across the village and promptsSabah Electricity to cut electrical suppliments to the houses near to the razed vessel. 6 crew were killed and 24 others were rescued by nearby offshore vessels andTLDM andMMEA vessels. The perished crews were Syahril Azmi Baharudin, 28, and Khalil Mohd Hanafi, 24, both from Melaka, Muhd Nazrin Khamsani, 24, from Kuala Lumpur, Zahari Hassim, 46, from Negeri Sembilan and a Filipino, Colanggoy Calaluan Errol, 22. All were presumably missing in initial reports. A group of offshore vessels, led by MVPacific Hawk, successfully extinguished the flames at 7.05am on next day.