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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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Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
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- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
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