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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, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
Wednesday, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
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- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Minerals Council of Australia
- The University of Queensland
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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