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Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a third party buyer. The contract is expected to generate approximately $148.0 million in revenue over the period of the contract. NewLead also announced that the Company has entered into an agreement to extend previously announced mine acquisition agreements.
Coal Supply and Delivery Contract
The contract provides for the sale of 130,000 metric tons of coal, commencing in March 2013, followed by 150,000 metric tons per month beginning in April 2013 until the end of 2013. All tonnage is subject to a variation of 10%. The price was established based on the prevailing market price for steam coal at the time the contract was entered into. Loading of the steam coal is expected to commence by the end of March 2013. Delivery of the coal will be completed by NewLead's fleet, whether by existing vessels or newly chartered-in from the market.
Michael Zolotas, Chairman, President and Chief Executive Officer of NewLead, stated, "We are integrating our commodity and transport operations. We secured a contract not only to profitably supply steam coal, but to also profitably transport this coal to our buyer, a creditworthy counterparty. Our vertically integrated operation provides various profitable sectors and, we believe, an advantage over other competitors."
Extension of Mine Acquisition Agreements
The Company also announced that it entered into an agreement to extend the date until March 5, 2013, by which the Company must acquire title and mineral excavation rights to 5,000 acres of land in Kentucky and ownership and leasehold interests in 18,335 acres in Tennessee. The extension was required to accommodate the needs of the sources of financing for these mines. However, there is no assurance that the acquisitions will be consummated by March 5, 2013 or at all.
NewLead Holdings Ltd. is an international, vertically integrated shipping and commodity company that manages product tankers and dry bulk vessels. NewLead currently controls four vessels, two tankers and two dry bulk vessels. NewLead's common shares are traded under the symbol "NEWL" on the NASDAQ Global Select Market.
Source: NewLead Holdings Ltd / Hellenic Shipping
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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
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- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
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- AsiaOL BioFuels Corp., Philippines
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- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
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- Indonesian Coal Mining Association
- Deloitte Consulting - India
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- McConnell Dowell - Australia
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- Baramulti Group, Indonesia
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- Karbindo Abesyapradhi - Indoneisa
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- Eastern Coal Council - USA
- Electricity Authority, New Zealand
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- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
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- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
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- Miang Besar Coal Terminal - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
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- Chamber of Mines of South Africa
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- Sojitz Corporation - Japan
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- Therma Luzon, Inc, Philippines
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- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
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- Riau Bara Harum - Indonesia
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- Romanian Commodities Exchange
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- Energy Development Corp, Philippines
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- London Commodity Brokers - England
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- Economic Council, Georgia
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- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
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- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
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