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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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Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
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- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- The University of Queensland
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
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