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Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
 MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochemical Co. Ltd. for the purchase of six newbuild 98,000 cubic meters Very Large Ethane Carriers (VLECs). Concurrently, MISC, through its vessel-owning entity, Portovenere and Lerici (Singapore) Pte. Ltd. (PLS) has entered into Time Charter Parties (TCPs) with Zhejiang Satellite Petrochemical Co. Ltd. (STL) for the time charter of the six VLECs for operations in international waters.
The VLECs will be purchased by MISC for approximately USD726 million and chartered to STL through PLS for a firm period of 15 years. The charters for the VLECS are expected to commence in the fourth quarter of 2020. Samsung Heavy Industries Co., Ltd. and Hyundai Heavy Industries Co., Ltd., both shipyards in Korea, are constructing three vessels each.
MISC’s President & Group Chief Executive Officer, Mr. Yee Yang Chien said “A new chapter is in the making as we make our entry into the global ethane market with these six VLECs and a new alliance in China. The acquisition of these six VLECs marks a milestone in MISC’s offerings for large scale ethane transport. Adding to the strength and expansion of our existing fleets as well as diversifying our portfolios, we are now the proud owner of six VLECs – which are the largest vessels of its kind, aside from the existing seven VLECs in the world. As one of the only three owners of such vessels in the world, this new addition to our fleet would strengthen MISC’s competitive advantage in this segment. I would like to thank Zhejiang Satellite for the invaluable trust given to us. I believe the alliance formed here today will endure well into the future”. “Despite the current challenging market environment, MISC Group has been making notable strides; as part of our effort to diversify our portfolio, develop new solutions and enlarge our presence with the addition of new markets. The long-term charter parties are instrumental to the built up of our sustainable income stream; a clear reflection of long-term drivers that sets our growth
strategies and valuable investments. The fact that these milestones are achieved at a time like this, shows MISC’s resilience and consistency in its virtuous growth,” he further added. During the signing ceremony, MISC was represented by Mr. Yee Yang Chien and Mr. Zahid Osman who is the Vice President of LNG Business, MISC Berhad while STL was represented by its Chairman & President, Mr. Yang Weidong and Vice President, Mr. Lu Wei Wei. Mr. Yang Weidong commented, “China and Malaysia have been having a very good relationship for quite a long time. Especially during the recent years, the cooperation between the two countries has been greatly increased. Today by entering into this agreement, Satellite and MISC have just started a new venture, in which the two parties will build a global logistics supply chain for chemicals together. This supply chain is going to safeguard the world-leading ethylene cracker that is being built by Satellite. Together, the two companies will help accelerating the development of global chemical industry. I believe that our cooperation will be very successful and last long.” MISC is currently one of the largest single owner-operators of LNG tankers in the world with distinguished reputation for overall operational excellence, reliability, safety and on-time cargo deliveries. At present, its LNG fleet comprises of 29 LNG carriers and two FSUs with a combined deadweight tonnage (dwt) capacity of over two million dwt. Four LNG carriers are currently under construction.
About MISC Berhad
MISC Berhad (MISC), was incorporated in 1968 and is a world leading provider of international energy related maritime solutions and services. The principal businesses of the Group comprise energy shipping and its related activities, owning and operating offshore floating solutions, marine repair and conversion, engineering and construction works, integrated marine services, port and terminal services as well as maritime education and training. As at 30 June 2020, MISC Group’s fleet consists of more than 100 owned and in-chartered vessels comprising of Liquefied Natural Gas (LNG), Petroleum and Product vessels, 14 Floating Production Systems (FPS) as well as 2 LNG Floating Storage Units (FSU). The fleet has a combined deadweight tonnage (dwt) capacity of more than 14 million tonnes. We take pride in our asset and service reliability, commitment to uphold the highest standards of Health, Safety and Environment (HSE), fostering a culture of excellence amongst our employees, operating responsibly and caring for the environment as well as making a positive difference to the communities in which we operate.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Parliament of New Zealand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
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