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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- VISA Power Limited - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
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