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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, 20 July 20
COAL INDIA LAUNCHES SPECIAL CATEGORY OF E-AUCTION FOR COAL IMPORTERS - BUSINESS STANDARD
Coal India (CIL) on Friday launched a special category of e-auction for importers of coal. This is in line with the government’s declaration ...
Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
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