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Pengerang LNG (Two) Sdn Bhd (PLNG2SB) chartered a Floating Storage Unit (FSU) from MISC instead of building a new LNG Storage Tank in Pengerang. "CGS CIMB cited the estimated FSU contract value of up to US$213.7m implies a time charter rate of just US$29,274/day, which is a far cry from the now-expired 20-year LNG time charter rate of US$130k/day (in our estimate) and also lower than the US$50k/day that we had pencilled for an LNG vessel replacement contract." This could imply a negative prospect for Dialog's midstream business.
