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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, 19 June 20
INDIA'S COAL CONSUMPTION GROWTH IN 2019 SLOWEST SINCE 2001: BP STATS REVIEW - HINDU BUSINESS LINE
Growth in global energy markets slowed in 2019 in line with weaker economic growth, according to the bp Statistical Review of World Energy 2020. Th ...
Friday, 19 June 20
KOWEPO TO IMPORT 1,050,000 MT OF MIN 5300 NCV COAL FOR THREE YEARS
COALspot.com: Korera Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1,050k MT Min.5,300 kcal/kg NCV coal for t ...
Thursday, 18 June 20
INDIA: GOVT'S PLAN TO CUT COAL IMPORT GOES FOR A TOSS AS FY20 BREAKS LOGISTICS CHAIN; LOCAL OUTPUT STAGNANT - FINANCIAL EXPRESS
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal im ...
Thursday, 18 June 20
INDIA: THERMAL PLANTS TO OPERATE BELOW 53% CAPACITY IN FY21 AS POWER DEMAND DIPS - BUSINESS STANDARD
The Plant Load Factor (PLF) of thermal power stations across the country is projected to dip below 53 per cent in this fiscal. Muted power demand f ...
Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
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- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- The University of Queensland
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
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