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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, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- The University of Queensland
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
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