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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, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
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- Ind-Barath Power Infra Limited - India
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- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
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- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
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