MISC Bhd will spend about RM20 billion on new vessels in the coming years up to 2010 as it moves to expand its fleet to meet the increased demand for shipping, particularly from the oil and gas sector.
The group is capitalising on its expertise in energy transportation to meet the demand, but it remained committed not to build ships for speculative purposes, chairman Tan Sri Mohd Hassan Marican said at a press conference after the naming of its new liquefied natural gas (LNG) tanker here Monday.