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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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Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
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