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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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- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- The University of Queensland
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
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