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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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Tuesday, 23 June 20
COVID-19 COULD CAUSE A BOOM IN COAL POWER - RYSTAD ENERGY | OILPRICE
COVID-19 has not only impacted the energy industry’s revenues but also its infrastructure development.
The delay of new natural gas ...
Tuesday, 23 June 20
CHINA'S COAL OUTPUT UP 0.9 PCT IN JANUARY-MAY: XINHUA
Output of raw coal in China rose 0.9 percent year on year to 1.47 billion tonnes in the first five months of this year, official data showed.
& ...
Monday, 22 June 20
KAMSARMAX TYPES REGULARLY HIT THE $9,000 PER DAY LEVEL FOR INDONESIAN COAL RUN TO CHINA, BALTIC BRIEFING SAYS
Capesize
The Capesize market trajectory this week has been one of the steepest rallies the sector has experienced. Opening at $12,410, the sect ...
Saturday, 20 June 20
WORLD OIL DEMAND IS PROJECTED TO DECREASE BY 9.1 MB/D IN 2020 - OPEC
Crude Oil Price Movements
Spot crude oil prices rebounded in May from low levels registered a month earlier, as physical market fundamentals im ...
Saturday, 20 June 20
NO ESCAPING GLOBAL TRADE SLUMP - BALTIC EXCHANGE
Those hoping for a decent recovery in trade in the second half of the year should prepare for disappointment.
New data from the Unit ...
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- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Australian Coal Association
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
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