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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- The Treasury - Australian Government
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Australian Coal Association
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
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