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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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Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
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- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- The University of Queensland
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
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