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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Samtan Co., Ltd - South Korea
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- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
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- Aboitiz Power Corporation - Philippines
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- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- White Energy Company Limited
- Australian Coal Association
- Minerals Council of Australia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
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- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
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- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
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- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
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