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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, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
Tuesday, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
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- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Parliament of New Zealand
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
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