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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, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Sunday, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
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- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
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