Malaysian shipping group MISC has refuted rumours that it could sell its subsidiary AET Tankers.
As early as last year, there was talk that MISC would sell AET Tankers so it could focus on LNG shipping. At that time, oil tanker rates were still low.
In 2011, MISC exited the container shipping business after three years of losses.
In a statement released on 24 April, MISC said, “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.”