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Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
 8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongkang I and Jongkang II mines
Energy company Jatenergy Ltd (ASX code JAT) announced today that it had secured its first coal sales contract from its two Jongkang mines in East Kalimantan, Indonesia.
Jatenergy’s Chief Executive Officer Phil Hodgson said: “Securing this first coal sale underscores buyer confidence in our ability to deliver reliable, good quality thermal coal from our operations,” CEO Phil Hodgson said on a press statement posted on company's web site.
The company’s Indonesian Chief Operating Officer Chris Flanagan further said that production was progressing well at both mines. “We are currently producing from both our Jongkang I and Jongkang II operations. Our on-site stockpile and readily accessible capped coal now totals about 15,000 tonnes.’The sales contract, for an 8000-tonne barge, had been reached with a Singaporean buyer. The key terms are a 50% total purchase price down-payment due in five working days, a market-based FOB price (based upon 6500 kCal/kg specification), 40% payment on barge loading in March and a 10% adjustment subject to cargo survey.
Jongkang I and Jongkang II have been developed in a JV arrangement with a local Indonesian partner. Jatenergy contributed the majority of the working capital costs of both projects (around US$1m) in return for 30% of the mining margin and the marketing rights to 100% of the production. The project is sited 5km from a stockpile, crushing and conveyor loading facility on the Mahakam River, about 25km from the coal shipping hub of Samarinda.
Jatenergy’s new Chairman Alan Broome said: “We have now proved that we can operate in Indonesia – an area with huge growth potential for our company. The revenue will be applied to our significant Katingan project in Central Kalimantan, as well as to secure and develop larger short-to-production projects now under review in Indonesia.”
About Jatenergy:
Jatenergy is a diversified energy company operating in Australia and Asia. It owns the rights to four coal projects in Indonesia’s Kalimantan coal region, as well as eight coal exploration permits and permit applications in Queensland’s Bowen and Galilee basins.
It also produces high quality crude jatropha oil from plantation operations in Central Java, Indonesia, for power production and the airline industry.
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Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- Sarangani Energy Corporation, Philippines
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- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
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- Aditya Birla Group - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
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- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
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- Latin American Coal - Colombia
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- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Planning Commission, India
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- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
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- MS Steel International - UAE
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- Petron Corporation, Philippines
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- Minerals Council of Australia
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- The Treasury - Australian Government
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
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- Australian Commodity Traders Exchange
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- The University of Queensland
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