Asian Aframax freight rates surge to w90 amid switch to clean products

05/03/2021

https://www.hellenicshippingnews.com/tankers-asian-aframax-freight-rates-surge-to-w90-amid-switch-to-clean-products/

Aframax freight rates on key ex-Asia routes have reached w90 for the first time in 2021 on the back of tight supply as several ships clean up to load refined products, many ballast to the Mediterranean and cracking margins improve for refining light crudes, market participants said March 4.

The benchmark Persian-Gulf-East route was assessed at w90 March 3, up 24% week on week, S&P Global Platts data showed.

Rates on ex-Asia routes had hovered below w70 earlier in the year, dragging down the earnings of owners to negative, and further gains are potentially in the offing. If OPEC+ opts to increase crude output at its meeting later in the day, the Aframax freight market could receive a further boost, one broker said.

Aframax freight rates jump to nine-month highs

February 26, 2021

https://oilnow.gy/featured/aframax-freight-rates-jump-to-nine-month-highs/


MISC is a proud owner of 29 Aframax (50% of its petroleum vessels)

https://misc.com.my/solutions/petroleum-shipping/

Surge in transhipment traffic pushes port of Tanjung Pelepas to a new record

28/01/2021

https://theloadstar.com/surge-in-transhipment-traffic-pushes-port-of-tanjung-pelepas-to-a-new-record/

Malaysia’s port of Tanjung Pelepas (PTP) saw 8% growth in 2020, to a record-breaking 9.8m teu, making it an outlier among South-east Asia’s competing transhipment hubs.

PTP CEO Marco Neelsen explained the reasons: “A surge in extra transhipment volumes, due to the increased demand in Asia and Europe, and requests from customers to increase their throughput at PTP.”

He said the second-half of the year had seen the opening of more borders and the revival of the global trade economy for the China, transpacific and Europe regions.

Khalib Mohamad Noh, PTP chairman, added that the port had strengthened its position due to its investments in new equipment and efforts to improve container handling capacity.

PTP purchased eight super post-panamax quay cranes, 10 electrified rubber-tyred gantries and dredged the navigation channel to “ensure the new generation of ultra-large container vessels can safely navigate to our port”.

thank you..come again

Post removed.Why?

PCR test device from Eppendorf (Uchitec supplies sensors)

https://online-shop.eppendorf.ae/ME-en/PCR-44553/Cyclers-44554/Mastercycler-nexus-X2-PF-82586.html

The Mastercycler® nexus X2 is Eppendorf's solution for busy PCR labs. Two totally independent protocols can be run on the two blocks, so two PCR users can independently start and end their PCR reactions whenever they want. One of the assays can even have up to 64 samples. With less than 40 dB[a] noise emission, the nexus PCR cycler is whisper quiet and also very energy efficient

The heady prices in January were profitable even at the height of the rally: In China, prices for end-use LNG trucked into metropolitan Beijing were 20% higher than imports. The gap widened in smaller and less-developed cities.

“Our biggest priority is to have stable supply, which means we purchase from the spot market when necessary,” said Korea Gas Corp. spokesperson Kim Chi-ho. “This year, our spot purchases increased due to unexpected cold waves."

Like most of its counterparts, state-owned Kogas locks in more than half its LNG supply through long-term contracts but relies on the spot market to meet sudden demand.

Taking Share

China has been buying ever-larger imports of LNG from Australia, the world's largest supplier, which has been shipping relatively less to Korea and Japan in recent years.
Australia LNG exports

China’s huge presence has chipped away at its neighbors’ supplies. For years, Australia has been the top exporter to Japan, accounting for about a third of its LNG imports. But last year, Japan imported 26.3 million metric tons from Australia, down from each of the previous two years. Australian LNG shipments to China rose 5% year over year to a record 29 million metric tons last year.

Korean data shows that Australian LNG imports have stayed largely flat since 2018. Korea began looking elsewhere for shipments in recent years. The U.S. share of Korea’s LNG imports has risen to 14% in 2019 from 1% in 2016, after Kogas agreed in 2017 to long-term supply by Houston-based Cheniere Energy Inc.

But China, too, is shipping more from the U.S., with imports reaching a record 3.2 million metric tons last year, up 50% from 2018.

China’s gas demand is set to keep rising, underpinning the potential for supply shocks to turn prices volatile in coming years.

“Even before winter, there were a lot of policies to hasten infrastructure investment” in China’s LNG storage and connectivity, said Woodmac analyst Miaoru Huang. “But I think after this price spike, there will be renewed incentive to advance the build.”

China’s Pursuit of Natural Gas Jolts Markets and Drains Neighbors

March 5, 2021

https://www.wsj.com/articles/chinas-pursuit-of-natural-gas-jolts-markets-and-drains-neighbors-11614940203

China’s Pursuit of Natural Gas Jolts Markets and Drains Neighbors
Beijing’s quest to run world’s second-largest economy on cleaner energy is reshaping global trade in the fossil fuel

Beijing’s efforts to shift from coal to gas as a fuel over the longer term has drawn ever-larger liquefied natural gas imports

China’s quest to anchor its industrial growth to cleaner energy is whiplashing global prices of liquefied natural gas, reshaping trade in the world’s fastest-growing fossil fuel and raising fears of power blackouts in neighboring economies competing for the resource.

A sudden confluence of global supply outages and an unusually cold winter tripled LNG prices in mid-January to a record $32.50 a million British thermal units from early December—and brought into focus China’s increasingly outsize role.

Underpinned by its economic boom and rising presence in LNG spot markets, Beijing’s efforts to shift from coal to gas as a fuel over the longer term has drawn ever-larger LNG imports in recent years, tightening supplies available to gas-dependent neighbors Japan and South Korea. The three economies account for 60% of the world’s LNG consumption.

China’s voracity worsened a natural-gas shortage in January in Japan—which China last year outstripped as the world’s largest LNG importer—that put parts of Japan at risk of blackouts. In December, China imported 7.6 million metric tons, the most ever.

Utilities in Japan reported severe shortages of natural gas and averted blackouts by turning back to coal, oil and other older means of power generation.

Chinese LNG consumption rose last year by some 11%, far outpacing the 1% rise globally, data from consulting firm Wood Mackenzie shows. Imports meet about 45% of China’s demand, which has been rising since President Xi Jinping set around 2015 decadeslong plans to pipe natural gas into millions of Chinese homes and factories. Beijing views natural gas as a steppingstone—a cleaner fossil fuel—in its campaign for carbon neutrality by 2060.

Provincial authorities, including in southern Guangdong, began requiring more manufacturers to burn gas instead of coal last year, official reports say. And Beijing loosened rules in the past two years to allow more companies to import LNG, turning provincial gas distributors into more active bidders in spot markets once reserved for a handful of state-controlled giants.

“When you have an extreme need for supply and physically can’t deliver on it, then that underpins this type of price rallies.” said Jeffrey Moore, analytics manager at researcher S&P Global Platts.

Power Moves

China's drive for natural gas is driving recentprice volatility, eating into supplies for othereconomies and shaking up trade.

Prices for the fuel have fallen to around $6.30 MMBtu in mid-February, an 81% dive from January’s record, as the fading cold snap eased buying competition. Just weeks earlier, the outsize imports didn’t seem to be enough. Platts estimates show that LNG stocks in northeast Asia were 64% of capacity heading into winter, well below the 70% average in previous years, forcing buyers to the spot market.

Unexpected shutdowns of export plants in Australia, the world’s top producer, and elsewhere, meant Asia had to rely on imports that needed three times as many days—or more—to ship.

In late December, China’s top economic policy body ordered domestic gas producers to operate at capacity and LNG shipping terminals to give priority to imports. Authorities also had to fall back to coal-fired power and ordered more coal imports, too.

“We are doing everything possible to increase supply of the resource,” the National Development and Reform Commission said at the time. “We are making every effort to increase the purchase of spot LNG.”

In Japan, power plants in the heavily populated Kansai region were running at 99% of generation capacity; more than the usual 60% for LNG-fueled plants. Japan depends on natural gas for about a third of its electricity.

The strains on Japan’s grid forced operators to turn to old playbooks, including running some plants beyond capacity and, in the case of Tokyo-based utility Electric Power Development Co., burning crude oil for two days in January to keep up power generation.

Biotech could serve as future catalyst in this pandemic era
........................................................

HLIB said one of the products in Uchi’s pioneer status list is the ultra-low temperature and mass sensing control system.

It said this device is designed for the storage of biological materials (such as virus, bacteria, eukaryotic cells, stem cell and blood) mainly used in blood banks, hospitals, epidemic prevention services, research institutes and biomedical facilities.

China Unleashes Army of LNG Upstarts Hungry for Spot Supply

15 March 2021

https://www.bloomberg.com/news/articles/2021-03-15/china-opened-up-its-pipelines-and-lng-upstarts-are-blooming#:~:text=China's%20smaller%20liquefied%20natural%20gas,including%20Guangdong%20Energy%20Group%20Co.

China’s smaller liquefied natural gas buyers are seizing on reforms that’ve opened access to import infrastructure to boost competition, issuing a spate of tenders for the fuel over the past month.

The second-tier gas firms, including Guangdong Energy Group Co. and Shenzhen Energy Group Co., are forecast to continue to seek more cargoes with spot LNG prices low, adding a new source of demand for global exporters, according to energy consultant FGE.

“We can expect more emerging Chinese players to be in the market for spot procurement in the coming months as China continues to open up its LNG receiving facilities,” said Alicia Wee, a senior analyst at FGE in Singapore.

Until recently, China imported most of its LNG through the three major state-owned energy giants, which owned pipelines, import terminals and distributed the fuel directly to smaller players. That’s changed with the formation of China Oil & Gas Pipeline Network Corp., known as PipeChina, which has consolidated the infrastructure into a single firm.

PipeChina has awarded over ten companies third-party access to its terminals, meaning smaller players can issue tenders directly when the need arises, instead of going through a larger state company, according to traders who requested anonymity to discuss private details.

Chinese gas firms are tapping into the spot market where fuel is cheaper Companies like Dongguan Daosen Natural Gas Co. which bought its first cargo via a direct tender this month, have been operating in domestic markets for years, according to Wood Mackenzie. Shenzhen Energy and Guangzhou Gas are among others to have bought cargoes in recent weeks.


While the infrastructure reforms are help diversify the field of importers, the majority of terminal access is still being awarded to the nation’s top buyers, including China National Offshore Oil Corp. and PetroChina Co. Terminal capacity available to third parties offered by PipeChina is 5.7 million tons per year, a fraction of China’s total capacity of 87 million tons per year at the end of 2020, according to Wood Mackenzie.

A further drop in Asian LNG prices could prompt another wave of spot cargo purchases by smaller firms this summer, said Beijing-based Wood Mackenzie research director Miaoru Huang.

................................

The benchmark Japan-Korea marker fell to $5.56 per million British thermal units on March 2, the lowest level since last October, according to data from S&P Global Platts. Prices have since increased, in part on higher demand from the second-tier importers, and were trading on Monday around $6.70 for April delivery.

Smaller buyers are also signing more long-term deals. The firms accounted for 83% of total Chinese contracts signed last year, from a 26% share in 2019, according to BloombergNEF.

I Built A List Of Growing Companies And Uchi Technologies Berhad Made The Cut

18 March 2021

https://simplywall.st/stocks/my/tech/klse-uchitec/uchi-technologies-berhad-shares/news/i-built-a-list-of-growing-companies-and-uchi-technologies-be

@Sean888, excellent sharing. thanks

............

“We are probably never going to experience a demand increase similar to what we are likely to see over the next nine months for tankers,” said Eirik Haavaldsen, a shipping analyst at Pareto Securities AS in Oslo. “Six months down the road, we will have higher OPEC+ production because the world is going to consume a lot more oil as vaccines take effect and economies recover.”

https://www.klsescreener.com/v2/news/view/802199

this article is meant to say to i3 fellows...

"now that my new stocks have limit up...i dont mind admitting i made a mistake on supermax...so i still retain the superinvestor title...i am still the most smartest influential investor in bursa"

he he

MISC - Mild impact from 3 long-term Shell charters

Date: 12/03/2021

We maintain BUY on MISC with an unchanged sum-of-parts based fair value of RM8.50/share, which reflects a premium of 3% from our ESG rating of 4 stars. This also implies an FY21F EV/EBITDA of 9x, at parity to its 2-year average.

MISC has secured long-term charter contracts to own and operate 3 newbuild LNG dual-fuel very large crude carriers (VLCCs) from Shell Tankers (Singapore) Pvt Ltd to operate in international waters for 7 years, commencing in 3Q2023.

A dual-fuelled LNG vessel, which has been retrofitted, is able to burn LNG as a bunker fuel. According to a Channoil Consulting-Gibson Shipbrokers study, VLCCs can save up to US$7.7K/day from using LNG instead of conventional bunker fuel that is compliant to the International Maritime Organization’s sulfur standards.

This is not the first time that MISC is involved in LNG dual-fuel petroleum VLCC tankers as the group had earlier secured 2 such charters from Total in April 2020, which are scheduled for delivery in 1H2022. Hence, these 3 new charters from Shell will increase the group’s VLCC fleet by 27% to 15 by 2023.

The announcement did not reveal the capex nor charter rates of the vessels. However, assuming a capex of US$6mil to add a dual-fuel LNG engine system to a newly built VLCC could raise the capex by 7% to US$94mil/vessel. As such, we expect that the total capex of US$282mil (RM1.2bil) for these 3 new vessels could be part of MISC’s growth capex of US$1bil annually.

Assuming 3-year VLCC charter rates of US$28K/day over 20 years and operating costs of US$6K/day, we estimate that these charters could generate a mild project IRR of 6% and slight impact to FY23F earnings. Hence, we maintain MISC’s FY21F–FY23F earnings.

Meanwhile, we expect tanker rates to remain depressed in 1H2021 due to the extension of Saudi Arabia’s quota in April this year and weak crude demand amid global tonnage rising by over 20mil dwt this year, partly offset by expectations of increasing demolition of old vessels after being offloaded from floating storage usage.

Nonetheless, we estimate that the additional construction earnings from the US$2bil Mero-3 FPSO project should be able to offset this main drag from the tanker segment in 1HFY21. By 3QFY21, with the global rollout of Covid-19 vaccinations, we are optimistic that improving economic growth prospects and rising transportation needs will support higher tanker rates towards the traditional seasonal end of the year.

The stock currently trades at a fair FY21F EV/EBITDA of 8x – 1 standard deviation below its 3-year average of 9x, while sustaining a compelling dividend yield of 5%.

Source: AmInvest Research - 12 Mar 2021

you too Flying Fox...we are all here to share what we think as sincerely as possible.. hope 2021 is another fantastic bountiful year to you!

wah so far away, ok thanks ooihk899

dont know when AGM

24. DIVIDENDS DECLARED OR PAYABLE
An interim dividend of 7.5 Sen per share, exempt from income tax for the year ended December 31, 2020, has been
paid on January 26, 2021 to depositors registered in the Record of Depositors at the closed of business on December
31, 2020.
As of the date of this announcement, the Board of Directors proposed a final dividend of 9.5 Sen per share, exempt
from income tax for the year ended December 31, 2020. The date of the entitlement and payment for the aforesaid
dividend shall be determined by the Board of Directors at a later date. The final dividend will be tabled at the
forthcoming Annual General Meeting for the shareholders' approval.

when would they be paying the dividend

Coronavirus: This is not the last pandemic

https://www.bbc.com/news/science-environment-52775386

"So biodiversity loss can create landscapes that increase risky human-wildlife contact and increase the chances of certain viruses, bacteria and parasites spilling over into people."

There are certain outbreaks that have demonstrated this risk at the "interfaces" between human activity and wildlife with devastating clarity.

In first outbreak of Nipah virus in 1999 in Malaysia, a viral infection - carried by fruit bats - spilled over into a large pig farm built at the edge of a forest. Wild fruit bats fed on the fruit trees and the pigs munched on half-eaten fruit that fell from the trees and was covered in bat saliva.

More than 250 people who worked in close contact with the infected pigs caught the virus. More than 100 of those people died. The case fatality rate of the coronavirus is still emerging, but current estimates put it at around 1%. Nipah virus kills 40-75% of people it infects.

Prof Eric Fevre from the University of Liverpool and the International Livestock Research Institute in Nairobi, Kenya, says researchers need to be on constant watch in areas where there is a higher risk of disease outbreaks.


'Interfaces' between farms or human activity and wildlife habitats are hotspots for new diseases to emerge

Farms on the edge of forests, markets where animals are bought and sold - all are blurred boundaries between humans and wildlife, and places where diseases are more likely to emerge.

"We need to be constantly on the look-out at these interfaces and have systems in place to respond if we see anything unusual", like a sudden disease outbreak in a particular location.

"New diseases pop-up in the human population probably three to four times per year," Prof Fevre said. "It's not just in Asia or Africa, but in Europe and the US as well."

Matthew Baylis added that this ongoing surveillance for new disease is increasingly important. "We've created almost a perfect storm here for the emergence of pandemics," he told BBC News.

Prof Fevre agreed. "This kind of event is likely to happen again and again," he said.

https://www.fastcompany.com/90580784/this-is-where-the-next-pandemic-is-likely-to-emerge

The new study notes that areas in Africa and parts of Asia are most at risk, both because of contact between people and animals and because of the other factors: While it’s possible that a pandemic could emerge in a location with good health infrastructure, it’s more likely to happen in areas where healthcare is underfunded.

Just imagine another pandemic exploding by end 2024

Other major players covered in the global ULT freezers market report are Arctiko, Eppendorf,...

Ultra-Low Temperature Freezer Market Propelled By The Need To Store Coronavirus Samples And Vaccines

Monday, March 1st 2021

https://www.thecowboychannel.com/story/43423247/ultra-low-temperature-freezer-market-propelled-by-the-need-to-store-coronavirus-samples-and-vaccines

The COVID-19 outbreak is propelling the growth of the ultra-low temperature freezer market. Scientists have created vaccines, and have been depending on ultra-low temperature freezers and incubators to retain novel coronavirus samples so that they can be recovered whenever appropriate so as to be examined to gain insight into this respiratory illness. For example, the BINDER CO2 freezer is helping researchers and scientists to retain coronavirus samples. These freezers are important because they provide protection and anti-contamination features. Therefore, the COVID-19 outbreak contributed to the growth of the ultra-low temperature freezer market.

However, the global ultra-low temperature freezers market size is expected to grow from $633.94 million in 2020 to $805.47 million in 2021 at a compound annual growth rate (CAGR) of 27.06%. The market is expected to reach $1 billion in 2025 at a CAGR of 5.7%.

The change in growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. North America has the largest ultra-low temperature freezers market share. The other regions covered in the global ultra-low temperature freezers market are Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

The ultra-low temperature freezers market covered in this report is segmented by type into chest freezers, upright freezers; by application into blood & blood products, organs, pharmaceuticals, forensic, genomic research; by end-user into bio-banks, pharmaceutical and biotechnology companies, academic and research laboratories, others.

Post removed.Why?

he calling up CEO of Comfort shows he was under tremendous stress and panicking....as usual emotions overtakes logics

he would have thought the rapidly declining covid cases worldwide (by end of Feb) is a sign that the war on covid was over with vaccination

sadly end of Feb was the bottom of the covid cases count worldwide before it reversed upward

further i expect emotion has a greater influence at his age than logic

the fact that his repeated advocative articles failed to reverse the trend of supermax share price...would have made him feel he was absolutely having zero influence on market...that would have spooked him and succumbed (as he was heavily invested)

Mr, Koon wrote below on 28th Feb before declaring by 3rd March (in 3 days time) that he sold all 3 weeks ago:
.......................

I have written more than 10 articles on Supermax. As a result, many of my readers would have bought and sold to make a lot of money. But if they did not sell earlier, depending on their average purchase price, they may be losing money on paper because it has been dropping from Rm 10.70 on 19 Oct to close at Rm 4.84. It has dropped more than 50% in the last 4 months as show on the chart above.

The losers must be cursing me for apparently misleading them.I have no reason to ask them to buy to support the share price because the daily volume traded is tens of million shares and whether they buy or sell would not make much difference to the share price.

As a co-founder of Rubberex, I was told that the demand for glove is still surging due to Covid 19 pandemic despite massive vaccination. Moreover, many more medical workers are wearing glove to do the injection for safety. Additional gloves are required.

In fact, Professor Peter Piot of London Medical College said that at least 70% of the population in the world must be vaccinated to prevent the spread of the coronavirus. It will take a long time to produce enough of Vaccine to vaccinate 70% of the world population of 7.6 billion people. Currently only the rich nations can afford to buy vaccine to vaccinate their citizens. Unfortunately, there are many more poor nations who cannot afford to buy the vaccine.

Professor Peter Piot and many scientists predicted the Covid 19 pandemic will continue for another 4 or 5 years. Based on this fact, the demand for gloves should continue to surge for a long time and all glove makers can easily increase their selling prices to make more and more profit which should be reflected on their share prices.

This morning, I spoke to Mr Ken Cheang, CEO of Comfort Gloves to ask him if he could sell some gloves to an old friend who is a trader. He said that all his production is already presold for the whole year. If my friend wants to place an order, he can only supply in 2022 but he cannot fix the selling price now as the selling price is increasing constantly due to the surge in demand for gloves.

For no logical reason, all the glove stocks have been dropping in the last 4 months while the companies are making more and more profit. It is so ridiculous and defies investment logic.

Supermax first quarter ending Sept EPS 30.58 sen and 2nd quarter ending Dec 41.14 sen, totalling 71.72 sen for half year. Assuming each of the 3rd and 4th quarter EPS is 40.14 sen, its annual EPS will be Rm 1.54 per share.

Based on PE 10, my target price is Rm 15.40 which is easily achievable.

Supermax cannot continue to drop for whatever reason. Sooner or later, it must rebound. It will shoot up very rapidly to reach my target price.

My last advice is to get ready to buy back at cheaper prices. Even if you buy at current price level, you should not be afraid because the down side risk is minimum.

...........

"I want to reassure them that I wrote my articles with good and honest intention."

That was written on 2nd paragraph... my gut feelings say he did write it with honest intention... and then he sold all within the next 3 days

Reason is he would have thought that by behaving completely opposite to what he had said sincerely on 28th Feb, may give him an edge...but unfortunately it was done under psychological stress...and it back fired.

Post removed.Why?

Post removed.Why?

ok abang...so you are not in tech,,,and not in recovery stocks...out of the market i suppose..

you want gloves to hit ATH kah? lol...

i just made 4% in gloves today..i am quite happy with it..

may be the feng shui is drafted based on economic prediction

ok lets check how the Feng Shui turns out...

problem with Feng Shui...no matter how many times science proves its all bullshit just like religion...it will keep surfacing...

reason being humans want it and have high hopes for it work and exist due its simplicity......hope never dies..

no point waiting to prove who is right n wrong la....

what matters is to share your reasoning and justification based on what u know...

its not like someone will crown you sifu with your sixth sense predictions and follow u blindly from now on....

problem is if a country like Israel is proven (at the moment not proven) unable to return back to normal..say with even more variants and showing the vaccinated are also dying... the recovery stocks will definitely be spooked

as then it will be a very long road to recovery

If recovery stocks are spooked and tech is consolidating...

you have only gloves

ok gloves will glow relatively brighter then...

cases in the world is spiking...the sharp decline earlier was purely due to lock down and subsiding winter ...brazil will perform worst as winter moves south

4000 cases per day for a country that has vaccinated 90% of its population like Israel...is truly giving a bleak picture

https://www.worldometers.info/coronavirus/country/israel/

https://www.offshore-energy.biz/misc-enters-ethane-market-with-six-vessel-purchase/

“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,” Yee Yang Chien, MISC’s President and CEO, commented.

“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.”

“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 build up of our sustainable income stream,” he added.

“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,” Yang Weidong, Chairman and President of STL, pointed out.

MISC completes maiden ethane cargo delivery

https://www.theedgemarkets.com/article/misc-completes-maiden-ethane-cargo-delivery

KUALA LUMPUR (March 3): MISC Bhd, which is a 51%-owned subsidiary of Petroliam Nasional Bhd, has completed its maiden ethane cargo delivery, which is also the largest to-date in the history of ethane shipping at over 51,000 tonnes.

In a statement today, MISC said its first very large ethane carrier (VLEC) Seri Everest has completed the cargo discharge at Lianyungang port, Jiangsu province, China on Feb 28.

The cargo was loaded from Orbit Terminal, Nederland in the US last October where Seri Everest was the first VLEC to call on the new terminal, it added. The loading and discharge was managed by Eaglestar Shipmanagement Gas (S) Pte Ltd.

Seri Everest is chartered to Zhejiang Satellite Petrochemical Co Ltd for a period of 15 years, alongside five other VLECs, MISC said.

MISC also took delivery of a second VLEC Seri Erlang in January this year, currently on its maiden voyage to the US. The shipping firm is expected to take delivery of the remaining four VLECs within the first half of 2021.

“The recent positive development of Seri Everest is certainly a landmark achievement, driven by the strong passion and dedication of her crew from Eaglestar and the various teams at site and shore,” said MISC president and group chief executive officer Yee Yang Chien.

“This successful feat is a testament to our expertise and commitment in moving energy. I would like to take this opportunity to thank Zhejiang Satellite Petrochemical Co Ltd for their trust and confidence in us. We are certainly proud to support the growing needs of the ethane market and we look forward to sharing more developments as we progress further with our voyages in moving ethane safely and efficiently,” Yee added.

At end-2020, MISC Group’s fleet consisted of more than 100 owned and in-chartered vessels comprising liquefied natural gas (LNG), petroleum and product vessels, VLECs, 14 floating production systems (FPS), as well as two LNG floating storage units (FSU). The fleet has a combined deadweight tonnage capacity of more than 11 million tonnes.

Flying Fox... since when i believe KYY wholeheartedly...it was coincidence my opinion coincided with him ma that time....but i admit it failed...with minimum damage

always stick to the fundamentals, TA is 50% correct and 50% wrong at all times and only those happened to be correct makes the noise to be visible

another 50% is always silent


Posted by probability > Mar 2, 2021 10:52 PM | Report Abuse X

...perfect opportunity?

Posted by probability > Mar 2, 2021 11:09 PM | Report Abuse X

from 7 drop till 4....purely from speculative news....

totally from unsubstantiated adverse prospect

absolutely oversold

Posted by probability > Mar 2, 2021 10:56 PM | Report Abuse

tomorrow GUARANTEED GREEN

Post removed.Why?

now this is what we call perfect timing using sixth sense

from 7 drop till 4....purely from speculative news....

totally from unsubstantiated adverse prospect

absolutely oversold

tomorrow GUARANTEED GREEN

tan sri many times said...once u see the earning....tg share price will look very cheap (thats when it was trading above 9 about to overtake maybank mcap)

...perfect opportunity?