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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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Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
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
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
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- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
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