MISC Refutes AET Sale Speculations

Malaysia-based MISC Berhad has dismissed claims that have emerged recently on the sale of its  wholly owned petroleum tanker subsidiary AET Tanker Holdings Sdn Bhd.

“In response to recent market speculation, MISC confirms that petroleum shipping is a core element of its current and ongoing business and, as such, has no plans to divest itself of its petroleum tanker subsidiary,” the company said.

The statement comes amid rumors on MISC’s plan to sell its tanker division to the US-listed Teekay Tankers Ltd.

AET Tanker Holdings owns a fleet of 74 crude oil and product tankers and it assets are estimated to be worth RM 3.3bil (around to USD 921 million).

Neptune Orient Lines (NOL) sold AET to MISC in 2003.

World Maritime News Staff

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