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Thursday, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
 Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal projects located in East Kalimantan, Indonesia.
The agreement, which has been signed with a large Chinese energy company, Guandong Yudean Farnon Investment Co. Ltd (Yudean Farnon), involves the provision of three trial shipments containing a total of 150,000 tonnes of coal over a two-month period.
Upon successful completion of these shipments, KRL intends to extend this agreement to cover additional tonnages of coal.
The company said the price negotiated for the coal is very competitive and is based on a formula reflecting fluctuation of the Chinese Coal Index.
This represents significantly better value than pricing taken from the local Indonesian market and will provide KRL with a valuable income stream as it continues to ramp-up production from its Indonesian coal portfolio.
Importantly, the agreement is non-exclusive, with KRL able to consider other off-take partners. With this in mind, the company is continuing in its discussions with other potential partners to further promote the company’s long-term strategic objectives.
KRL Managing Director Mark O’Keeffe said the signing of the export sales contract was a milestone event for the company which would provide valuable revenue as well as an entry to the Chinese export market.
“This initial sales contract with Yudean Farnon provides a strong foundation from which we can continue to ramp up the mining and export of coal from our operations in Kalimantan in Indonesia."
“We are also very pleased to be associated with an organization of the size and prestige of Yudean Farnon, which gives us an important foothold in the dominant Chinese market."
“We are confident that this deal will be very successful and we look forward to a long and mutually beneficial relationship with Yudean Farnon,” he added.
Yudean Farnon Managing Director Mr Chen stated “Kangaroo Resources Ltd represents a dynamic young company that has significant coal assets in Indonesia."
"Yudean Farnon is delighted to start a relationship with KRL and it hopes that the partnership will continue to grow as KRL builds its production ramp up,” Chen said.
KRL has focussed over the past Quarter on taking the Mamahak Coal Project into production in anticipation of delivering into an export coal sales agreement.
To date, the company has added over 20,000 tonnes of fresh coking coal to the run-of-mine (ROM) stockpile at Mamahak, in addition to the ~30,000 tonnes of coal inherited in the acquisition of this project.
An additional 15,000-20,000 tonnes of coal has been exposed at Mamahak and is ready to be mined and added to the stockpile.
This coal represents the bulk of the Mamahak coal product that will be required for the initial sales contract to Yudean and KRL is currently in the process of transporting the coal from stockpile down the Mamahak River to the Balikpapan Coal Terminal for export.
Source: Proactive Investors
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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
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