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Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has entered into a binding offer for the sale of its premium quality Jongkang coal with a Chinese power utility.
This is a final step prior to executing a sales contract for the supply of 50,000 tonnes per month commencing September 2010 at an FOB vessel price of U$80 per tonne for 6,300 cal/kg GCV coal.
Jack Tan, chairman, said the coal sales will provide OGL Indotrade with a revenue stream of $52 million per annum and has the capacity to transform OGL into a successful coal player.
Bonuses and penalties exist for any variation of coal quality. Following the successful delivery of a 40,000 tonne trial cargo, the contract will have a 12-month term.
The Jongkang Coal Mine is located near Tenggarong in East Kalimantan, Indonesia. The lease is a 94-hectare IUP Exploitation with all permits in order for immediate mine operations.
Jongkang’s 25,000 tonnes per month product will be complemented by the purchase of coal from a neighbouring supplier, to allow the company to sell 50,000 tonnes per month from September 2010.
The resultant operation will provide the company with revenues of U$4.0 million per month or U$52 million per annum.
Jongkang coal is a premium product with adb GCV 6950 cal/g, 2% ash and 0.7% sulphur. It will be blended down to GCV 6300 to meet the required Chinese specifications, commanding a strong sales price.
OGL's joint venture arrangement in Indonesia is with Malaysian owned group, Golden Focus Group Limited (Hong Kong) and their Indonesian entity, PT Indotrade Resources, which is a successful coal miner in Indonesia producing around 2mtpa of export grade steaming coal from East Kalimantan to China and Korea.
PT OGL Indotrade Resources has rights to mine and sell coal from the Rahmat, Jongkang, Pagar and Jambi coal tenements.
OGL aims to become a medium sized producer of metallurgical and steaming coal in Australia and Indonesia, both major coal producing nations.
Source: Proactive Investors
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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
"SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in ...
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- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
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