Malaysian International Shipping Corporation
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Public listed company (MYX: ) |
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| Industry | Transport, Logistics, Warehousing |
| Founded | 1968 |
| Headquarters | Kuala Lumpur, Malaysia |
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Key people
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Chairman: Datuk Ab. Halim bin Mohyiddin CEO: Yee Yang Chien |
| 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 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 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 & Construction works. With a modern and well-diversified fleet of more than 120 vessels and a combined tonnage of more than 13,000,000 DWT.
MISC is a specialist in Energy Transportation. The company HQ is located at Menara Dayabumi in Kuala Lumpur, Malaysia. With 27 LNG carriers, it is currently one of the world’s leading operator of LNG fleet. Through its wholly owned subsidiary AET, MISC is one of the leading global tanker operators and a market leader in lightering operations for US Gulf ship-to-ship transfers.
MISC also delivers freighting solutions for vegetable oil and chemical products to various corners of the globe, 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 into offshore business, offering customers a full scope of offshore floating facility services – from design to operations. 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.
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. 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.
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