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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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Monday, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Minerals Council of Australia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Economic Council, Georgia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
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