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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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Friday, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
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