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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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Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
Tuesday, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
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- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
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