The Malaysianshipowner saw net income jump to MYR 511.8m ($158.7m) compared to the MYR336.7m achieved twelve months earlier.
Revenuefor the three month period contracted 3.7% to MYR 2.3bn, while costs declined15% year-on-year to MYR 1.57bn.
MISC’senergy-related business, which includes LNG, petroleum and chemical shipping,reported an operating profit of MYR 450m.
It attributed the improvedperformance to improved freight rates and higher volumes of lighteringactivities at its petroleum business.
However, revenue atits chemical shipping arm was lower due to the disposal of two ships during thequarter.
Its other business segment, which coversoffshore, heavy engineering and tank terminal business, operating profit wasMYR 58.9m.
Lookingahead, the shipowner said the chemical and petrochemical shipping prospectsremain challenging amidst an oversupply of tonnage.
“However, long-term contracts in LNG and ouroffshore business continue to provide stability to the group,” it said.
MISC owns 27 LNG carriers, 22 chemical carriersand 74 tankers including those operated under the banner of subsidiary AET.
The company also hastwo DP-rated 120,000-dwt shuttle tankers on order at Samsung Heavy Industries fordelivery in 2014 and 2015.
