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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, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
Thursday, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
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- Baramulti Group, Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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