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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, 23 May 23
INDIA: COAL OUTPUT UP 8.9%, SUPPLY RISES 11.7% IN APRIL - FINANCIAL EXPRESS
India’s coal production jumped 8.85% to 73.14 million tonne (MT) in April 2023 and the total coal despatch during the month went up 11.66% to ...
Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
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- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
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