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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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Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
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- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Planning Commission, India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
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