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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, 23 February 24
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Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
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Monday, 19 February 24
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- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
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