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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, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Larsen & Toubro Limited - India
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- MS Steel International - UAE
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- Heidelberg Cement - Germany
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- Goldman Sachs - Singapore
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- Banpu Public Company Limited - Thailand
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- Renaissance Capital - South Africa
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- New Zealand Coal & Carbon
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
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- Tata Chemicals Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
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- Mintek Dendrill Indonesia
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- Manunggal Multi Energi - Indonesia
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- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
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- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
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- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
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- PetroVietnam Power Coal Import and Supply Company
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- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
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- Energy Link Ltd, New Zealand
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- Chamber of Mines of South Africa
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- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
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- Posco Energy - South Korea
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- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
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- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
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- Edison Trading Spa - Italy
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- Oldendorff Carriers - Singapore
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- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
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- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
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- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
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- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
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- Australian Coal Association
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
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- Samtan Co., Ltd - South Korea
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- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
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- Kideco Jaya Agung - Indonesia
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- Rio Tinto Coal - Australia
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- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
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