MISC, Bakri Enter Shipping Venture

Malaysia International Shipping Corp. (MISC) reportedly signed a deal to establish a joint venture with Saudi Arabia's Bakri Navigation Company (BNC). The deal, according to a statement from the company, involves ownership, management, marketing and operation of maritime transportatio and shipping related business. BNC has a fleet of 16 chemical and petroleum production vessels, while MISC is the world's largest carrier of LNG.