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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$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
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Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
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Tuesday, 25 November 14
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Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
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