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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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Wednesday, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Parry Sugars Refinery, India
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- Chamber of Mines of South Africa
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- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
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- Indian Oil Corporation Limited
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- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
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- Renaissance Capital - South Africa
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- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
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- SMG Consultants - Indonesia
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- Semirara Mining and Power Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
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- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
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- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
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- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
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- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
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- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
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- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
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- Global Business Power Corporation, Philippines
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- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
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- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
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- Central Electricity Authority - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
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- Kideco Jaya Agung - Indonesia
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- Baramulti Group, Indonesia
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