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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
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- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
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- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
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- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
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- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
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- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
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- Orica Australia Pty. Ltd.
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