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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, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Chamber of Mines of South Africa
- PTC India Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Planning Commission, India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
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