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Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing company, located in Banjarmasin, South Kalimantan.
- Coal sales purchase agreement signed to supply coal to an Indonesian steel manufacturing group
- 8,000 – 10,000 tonnes per month of ADK coal to be delivered to the buyer
- Benchmark pricing with quarterly reviews
According to company’s press note, under the terms of this initial agreement, the off taker will purchase thermal coal from Orpheus Energy’s ADK Kintap mine f or one year, commencing December 2012, at the rate of 8,000 – 10,000 tonnes per month. The coal will be transported by truck to the steel operation, approximately 140km from ADK, for use in power generation at the facility.
The coal will be sold at benchmark pricing, with quarterly adjustments, and the coal specification requires the following characteristics: Calorific Value 5500-5300 Kcal/Kg (ADB), 33-35% Total Moisture (ADB), 2-4% Ash (ADB), and 0.5% Sulphur (ADB).
Executive Chairman Wayne Mitchell said: “ We recently told shareholders that we were in negotiations regarding longer term contracts for our ADK coal and we are now happy to announce our first off take agreement. The benchmark pricing outcome represents a vote of confidence in the company’s ability to deliver, and positions us t o sell increasing quantities of coal as our mines ’ capacity grows. This is an important milestone in our plans to establish Orpheus Energy as a significant supplier of coal to both export and Indonesian domestic markets”, a note from company said.
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Monday, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
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- Economic Council, Georgia
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- Larsen & Toubro Limited - India
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- PowerSource Philippines DevCo
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