MISC Reaps Fruit from LNG Fleet Additions

first_imgMalaysian shipping group MISC Berhad (MISC) has posted a net profit of RM 680.5 million (USD 160.8 million) for the third quarter of 2017, more than quadrupling last year’s equivalent of RM 134.2 million.Group revenue for the quarter came at RM 2,315.8 million, a 1.0% higher than the last year’s corresponding quarter’s revenue of RM2,292.8 million. The increase in revenue was contributed to the lease commencement of three new LNG vessels delivered in October 2016, January 2017 and August 2017.The company’s offshore segment also contributed to the increase with the favorable adjudication decision on Gumusut-Kakap Semi-Floating Production System (L) Limited (GKL) variation works and construction revenue from Floating, Storage and Offloading Vessel (FSO) Benchamas 2 that commenced construction in January 2017, MISC said.The revenue growth was, however, dampened by the lower earning days and freight rates reported by MISC’s petroleum arm as well as lower revenue from heavy engineering segment as most on-going projects are nearing completion.“Petroleum shipping demand continues to be affected by global production cuts in response to high crude inventory levels and low oil prices. This has also been exacerbated by the delivery of new tankers during the year. Nonetheless, seasonal demand during peak winter months will end the year on a firmer note for the petroleum shipping sector,” MISC said.Group revenue for the nine-month period stood at RM 7,603.2 million, 7.4% higher than last year’s equivalent.MISC’s profit before tax for the 9 months reached RM 1,961.5 million, down by 15.1% year-on-year.On the LNG shipping front, spot charter rates remain sluggish as a result of the tonnage oversupply driven by higher vessel deliveries and older vessels coming off charter, the company noted. However, spot charter rates are expected to pick up as countries start building up inventories to meet the winter heating demand.MISC said that long term charters in its LNG shipping business along with long-term contracts secured by its offshore business division will continue to support the financial performance of the group.In July, MISC took delivery of its new LNG Carrier, Seri Cempaka from Hyundai Heavy Industries. The 150,200 CBM Liquefied Natural Gas (LNG) carrier is the third in a series of five MOSS-Type LNG carriers ordered at HHI.In addition, Seri Camellia has joined MISC’s LNG fleet as the 27th active LNG carrier.Meanwhile, in its heavy engineering business segment, the group is working on cost management and improving operational efficiency to combat the challenging environment.“Replenishment of orderbook from the marine segment and offshore services is progressing and remains a priority. While the segment has successfully secured several offshore fabrication projects during the period, the majority of the contribution will only be realised in 2018 and beyond,” MISC said.“MISC will continue to pursue sustainable growth guided by MISC2020, our 5-year masterplan, with emphasis on advancing the growth of our core business segments,” MISC’s CEO Yee Yang Chien said.“We continue to accomplish notable milestones during this quarter and the recent months which includes MISC becoming a Strategic Partner of the Global Maritime Forum, a platform that is dedicated to unleashing the potential of the global maritime industry and is committed to shaping the future of global seaborne trade. MISC was recently acknowledged as the Tanker Operator of the Year at the Lloyd’s List Asia Pacific Awards 2017, highly regarded as a global mark of recognition within the shipping industry.”last_img read more

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Seahawks vs. Vikings odds, prediction, betting trends for ‘Monday Night Football’

first_imgStat that mattersThe Vikings have the No. 20 pass defense in the NFL, allowing 244.5 yards on average per game. The Seahawks have the No. 29 pass defense in the NFL, allowing 268.7 yards on average per game. The QB who plays better with a limited running game will win the game for his team.Seahawks vs. Vikings predictionThe Seahawks own the Vikings with Wilson for a reason. He comes up with clutch play when they need in games like this, especially at home. Cousins has tended to struggle in hostile road environments with high stakes. The Seahawks will be better at stretching the field for big plays while the Vikings will be better contained, putting Cousins in position to make key mistakes over forced longer drives.Seahawks 27, Vikings 24 When the Vikings (8-3) travel to face the Seahawks (9-2) on “Monday Night Football” (8:15 p.m. ET, ESPN) to close the Week 13 NFL schedule, it will be a battle of two teams currently in strong NFC wild-card positions trying to get in better spots to win their respective divisions.Minnesota needs to win to keep pace with Green Bay (9-3), which would still lead the NFC North because of a head-to-head tiebreaker. Seattle can take over first place in the NFC West with a win, as it holds the head-to-head tiebreaker over San Francisco (10-2). The quarterbacks, Kirk Cousins and Russell Wilson, are both having stellar, super-efficient seasons. The run defenses have been tough, but both pass defenses have had issues on the back end when not getting enough help from a dominant pass rush up front.Here’s everything to know about betting on Vikings vs. Seahawks in Week 13, including updated odds, trends and our expert’s prediction for “Monday Night Football.”MORE: Get the latest NFL odds & betting trends from Sports InsiderSeahawks vs. Vikings odds for ‘Monday Night Football’Spread: Seahawks by 2.5Point total: 49.5Odds: Vikings +131, Seahawks -151The Seahawks have seen their number go down from a field goal, which is the basic home-field advantage. When the Vikings last played a big game in prime time, they won at the Cowboys on Sunday night. The Seahawks took down the 49ers on the road in their last Monday night game.Seahawks vs. Vikings all-time seriesThe Seahawks lead the series 11-5. They have won five consecutive games in the rivalry, including 21-7 in Seattle on Monday night last December. Wilson has never lost to the Vikings in the regular season or the playoffs, including the 10-9 escape at Minnesota in the 2015 playoffs. The last time the Vikings won in Seattle was ’06.Three trends to know— 60 percent of spread bettors like the Seahawks. 60 percent of moneyline bettors also like the Seahawks.— The Vikings are 6-5 against the spread. The Seahawks are 6-4-1 against the spread.— The total has gone over in 6 of the 11 Seahawks games. The total also has gone over in 6 of 11 Vikings games.Three things to watchNo Thielen, but likely yes ClowneyThe Vikings’ passing game will once again be without hamstrung wide receiver Adam Thielen. That means the Seahawks can focus more on taking wide receiver Stefon Diggs out of the game with good coverage from emerging cornerback Shaquill Griffin with help over the top so he doesn’t hit a home run with his deep speed. Up front, the Seahawks should have Jadeveon Clowney back from a core muscle injury to limit Cousins’ time to push the ball downfield.Carson and PennyChris Carson has been the Seahawks’ lead back all season, but Rashaad Penny had his most explosive game in the rotation in Week 12. Should the Seahawks get a lead and give these guys enough work early, they can wear down the Vikings to eat away at the clock when it counts most in the fourth quarter.The tight endsThe Seahawks have struggled to cover tight ends and the Vikings will target Kyle Rudolph and Irv Smith Jr. often again with Thielen out. The Vikings will have their hands full with the athletic Jacob Hollister. If either team can get a big receiving game from the position, it would be huge toward the outcome.last_img read more

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