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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, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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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- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
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