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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
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