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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
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