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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, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
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- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Planning Commission, India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
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