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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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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- IHS Mccloskey Coal Group - USA
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- Mintek Dendrill Indonesia
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- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
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- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
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- Agrawal Coal Company - India
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- Eastern Energy - Thailand
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- Eastern Coal Council - USA
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- Antam Resourcindo - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
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- Planning Commission, India
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- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
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- Indonesian Coal Mining Association
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- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
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- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
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