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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
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