MISC Annual Report 2018

MANAGEMENT DISCUSSION & ANALYSIS PETROLEUM & PRODUCT SHIPPING REVENUE MILLION RM4,312.8 OPERATING LOSS MILLION RM12.3 KEY HIGHLIGHTS Further details on Petroleum& Product Shipping www.misc.com.my/solutions/petroleum-shipping THE FIRST AND ONLY TWO MODULAR CAPTURE VESSELS IN THE WORLD owner and operator of A MARKET LEADER in lightering operations in the US Gulf WINNER 2018 ClassNK Tanker Operator of the Year from Lloyd’s List Global Awards in London Pioneering owner of LNG DUAL FUEL tankers PETROLEUM & PRODUCT SHIPPING The Petroleum & Product Shipping segment under AET continues to strengthen its reputation as a provider of safe, high quality and comprehensive seaborne transportation, and specialist petroleum maritime logistics services, to the global petroleum industry. AET has over the years developed its leadership presence in various segments of our global business, including strengthening our strategic presence in mid-size tankers, growing our partnerships in the Dynamic Positioning Shuttle Tankers (DPST) space in Latin America and the North Sea, and expanding our established lightering services in the US Gulf into Latin America. AET is also the only tanker company worldwide to possess Modular Capture Vessels (MCV) for marine well blowout containment systems in the US Gulf. MANAGEMENT DISCUSSION & ANALYSIS PETROLEUM & PRODUCT SHIPPING HIGHLIGHTS OF THE YEAR OUR BUSINESS OUR LEADERSHIP OUR PERFORMANCE OUR COMMITMENT TO SUSTAINABILITY OUR GOVERNANCE FINANCIAL STATEMENTS OTHER INFORMATION 50 TH ANNUAL GENERAL MEETING 99 MISC BERHAD ANNUAL REPORT 2018 98