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Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U.S. dollars for construction of two 82,000-DWT bulk carriers. In a statement filed to the Hong Kong stock exchange, China Qinfa said two of its wholly-owned subsidiaries -- namely Harbor Well and Merit Sino -- had each signed a contract with the Guangzhou Longxue Shipbuilding company, owned by the China State Shipbuilding Corporation. Each of the contract was worth 34.5 million U.S. dollars.
Qinfa said the cost would be funded partly by bank borrowings and partly by the company's internal financial resources.
The company said the purchasing of two bulk carriers was " consistent with the Group's medium-term strategy to improve the overall efficiency of the Group's fleet."
Qinfa also said it was a suitable time for the construction of two new vessels since current construction cost was about 50 percent less than the highest level in 2008.
The two vessels can enhance its ability to control ship transportation cost and mitigate the risks on the fluctuations in the ship transportation cost, it added.
Qinfa's diversified coal business involves purchase, filtering, blending, storage, transportation, sales and shipping of coal on the mainland. It was listed in Hong Kong in July last year.
Source: Xinhua / Hellenic Shipping
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Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
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- Semirara Mining and Power Corporation, Philippines
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- London Commodity Brokers - England
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- Ministry of Finance - Indonesia
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- Bangladesh Power Developement Board
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- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
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- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
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- Lanco Infratech Ltd - India
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- Orica Australia Pty. Ltd.
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- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
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- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
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- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
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- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
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- VISA Power Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
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- Thiess Contractors Indonesia
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- Jindal Steel & Power Ltd - India
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- Kepco SPC Power Corporation, Philippines
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- The Treasury - Australian Government
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- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
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