Archive | May, 2010

PEOPLE: Koen Veniers is Oiltanking’s new Asia Pacific & Singapore chief, succeeds Rutgers van Thiel

(EnergyAsia, May 31 2010, Monday) — Koen Verniers, 39, has been named President of Oiltanking Asia Pacific, managing director of Oiltanking Singapore and CEO of Oiltanking Odfjell Terminal Singapore from August 1. He succeeds Rutger van Thiel who has been promoted to become managing director of one of the world’s largest oil storage firm, Oiltanking […]

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MALAYSIA: MISC buys 50% stake in Vitol’s storage subsidiary for US$735 million

(EnergyAsia, May 31 2010, Monday) — MISC Bhd, Malaysia’s leading international maritime corporation, said its subsidiary, MTTI Sdn Bhd, has agreed to acquire a 50% stake in fuel storage firm VTTI BV from global trading firm Vitol for US$735 million. The two companies will be entering into a shareholders’ agreement upon the deal’s completion. One […]

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INDONESIA: Australia’s Kangaroo Resources to acquire five coal projects

(EnergyAsia, May 31 2010, Monday) — Australian Stock Exchange-listed Kangaroo Resources said it is completing the acquisition of five Indonesian coal projects, including the high quality Kubah Indah Coking Coal Project, after successfully concluding due diligence. The acquisitions will be paid for with 300 million Kangaroo shares to be issued to the project vendors upon […]

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MARKETS: Worldwide organisations unite with anti-piracy e-petition

(EnergyAsia, May 27 2010, Thursday) — “Enough is enough!”, says a petition launched on cyberspace last week demanding governments around the world take concrete action to end the increasing problem of Somali-based piracy threatening lives and global trade. The e-petition is backed by an unprecedented coalition of organisations including BIMCO, ICS, IFSMA, IMEC, IPTA, […]

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SINGAPORE: 72 traders win Global Trader Awards under IES Global Trader Programm

(EnergyAsia, May 27 2010, Thursday) — Singapore has enhanced its nine-year-old Global Trader Programme (GTP) to increase its attractiveness to international commodities traders. The programme’s administrator, the International Enterprise Singapore (IES) has admitted qualify structured commodity financing (SCF) activities for tax concessions, said Lim Hng Kiang, Minister for Trade and Industry. To ensure that Singapore […]

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SINGAPORE: Germany’s LANXESS begins construction of 400-million-euro butyl rubber plant

(EnergyAsia, May 27 2010, Thursday) — Frankfurt-listed LANXESS AG, Germany’s largest specialty chemicals company, has broken ground on 400-million-euro state-of-the-art butyl rubber plant on Jurong Island in Singapore. (US$1=0.75 euro). The 100,000-metric-ton-per-year plant is expected to start up in the first quarter of 2013. Axel Heitmann, LANXESS CEO, said: “In terms of volume, this investment […]

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