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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Malabar Cements Ltd - India
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