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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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Tuesday, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
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- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
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