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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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Wednesday, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
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- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
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