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Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
 COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of SKJM Port in South Kalimantan, Indonesia to secure exclusive barge loading capacity in excess of 200,000 tonnes per month for a term of 10 years.
According to company's press release, the company has secured exclusive 10 year agreement with SKJM Port operators in South Kalimantan. Initially Orpheus to be responsible for allocation of loading slots for 5 years. The agreement is allowing Orpheus to extend for another 5 years.
Initially around 150,000 tonnes tons of coal to be handled per month through the port and it will increase to around 200,000 tonnes/month (up to 3Mtpa) after port upgrade. First barge to be loaded immediately, according to the company’s note.
Orpheus Executive Chairman, Wayne Mitchell, commented: “We are delighted to announce this highly material infrastructure development which will provide robust cash flows for Orpheus. We have been working on this deal for a significant period of time and the execution of the SKJM Port agreement fundamentally changes our company from a modest producer and seller of coal, to a vertically integrated mining company of significant size.
“Orpheus has continued to progress its strategic objective to manage its entire coal chain from mine mouth to end buyer, and encouragingly, the company now has the capacity to do that. Given challenging market conditions, Orpheus has adapted extremely well to diversify its revenue streams and this agreement, along with our existing mining and trading operations, is another important step in the company working towards its goal of becoming cash flow positive.”
“We are particularly pleased we were able to negotiate a very favourable arrangement with one of our customers to fund the acquisition and development cost and the structure of this deal means we can avoid the dilution of existing shareholders”, he concluded.
Highlights include:
-- Exclusive 10 year agreement with SKJM Port operators in South Kalimantan, initially for 5 years, with an extension for another 5 years at Orpheus’s option
-- Initially 150,000 tonnes/month increasing to 200,000+ tonnes/month (up to 3Mtpa) after port upgrade: First barge to be loaded immediately
-- Orpheus to be responsible for allocation of loading slots
-- First infrastructure deal demonstrating stated vertical integration strategy
-- Strategic infrastructure platform to increase revenues
-- Acquisition and development costs to be funded off balance sheet by local infrastructure investor with principal to be repaid by SKJM Port
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Tuesday, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
Tuesday, 15 October 13
NEWCASTLE PORT SHIPPED 6.50% MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 6.50 per cent week on week to 3.19 million mt for ...
Monday, 14 October 13
MEMR OF INDONESIA SETS THE COAL'S SPOT PRICE AT US$ 76.61 FOR OCT'13 DELIVERY
COALspot. com - The Indonesian government has revised down government declared coal bench mark price by US$ 0.28/ MT to US$ 76.61 for October 2013 d ...
Monday, 14 October 13
CARBON POLICIES UNLIKELY TO PREVENT A COAL-FUELLED WORLD - WOOD MACKENZIE
China will propel coal growth but US, Europe and Asia will sustain global demand.
At the World Energy Congress (WEC) today Wood Mackenzie's Pres ...
Sunday, 13 October 13
Q4'13 DELIVERY SUB-BIT INDO COAL SWAP FALLS SEVEN STRAIGHT WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 1.72 percept month on month on Friday 11 October 201 ...
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- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
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- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
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- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Metalloyd Limited - United Kingdom
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- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
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- Planning Commission, India
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- Directorate Of Revenue Intelligence - India
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- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
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- Tata Chemicals Ltd - India
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- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- PTC India Limited - India
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- Indian Energy Exchange, India
- Posco Energy - South Korea
- ICICI Bank Limited - India
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- GMR Energy Limited - India
- Eastern Coal Council - USA
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- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
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- Price Waterhouse Coopers - Russia
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- Samtan Co., Ltd - South Korea
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- AsiaOL BioFuels Corp., Philippines
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- Minerals Council of Australia
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- Economic Council, Georgia
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- Bahari Cakrawala Sebuku - Indonesia
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- Eastern Energy - Thailand
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- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
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- The Treasury - Australian Government
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