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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
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Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
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Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
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Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
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- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- The University of Queensland
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
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