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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, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
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