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MISC in $245m court spat with Shell

MISC in $245m court spat with Shell
MISC, Malaysia’s energy shipping giant, has revealed details of a $245m court spat with Shell.

GKL, an MISC subsidiary, is has taken Shell subsidiary SSPC to court over a failed contract to build and lease the Gumusut-Kakap floating production system (FPS).

The appointment of an adjudicator and arbitrators are ongoing, MISC revealed while issuing its third quarter results.

MISC ceo hinted at acquisitions in his quarterly comments, stating: “Moving forward, to fulfill our aspiration of consistently providing better energy-related maritime solutions and services, MISC will capitalise on timely investment opportunities to ensure future business sustainability.”

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