Supply Chain Research

Tanker operator MISC reported third quarter revenues that grew 1% on a year earlier, led by a 13% expansion in its liquefied natural gas (LNG) business. That echoes the result seen at Qatari operator Nakilat, and allowed it to outperform the tanker sector’s 6% decline. MISC’s oil business, AET, nonetheless saw a 4% drop in revenues after U.S.-inbound volumes dropped by a fifth. MISC’s LNG operations also meant its profitability improved, with an EBITDA margin that rose to 50% from 35% a year earlier. The tanker sector’s likely dropped. Continued outperformance from MISC will depend on wh...