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Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
 COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has announced that the Company has made significant further progress towards delivering the commercial potential of Block VI in the Thar Coalfields.
According to Oracle’s press release, Oracle has signed an Engineering Procurement and Construction (EPC) Framework Agreement in Beijing with SEPCO Electric Power Construction Corporation (SEPCO), leading power and construction group in China.
SEPCO has also proposed a financing structure to potentially securitise up to 85 percent of the cost of the two EPC contracts.
Highlights:
- SEPCO has been selected as preferred contractor to enter into two lump sum turnkey EPC contracts for both the 4.2 million tonnes per annum Coal Mine and the 600MW Power Plant; the combined EPC price or transaction value is circa US dollar 1.3 Billion. This figure is subject to modification during the finalisation of the detailed contracts.
- SEPCO has delivered an outline of the financing proposal for project finance loans under which Sinosure would consider securitising up to 85 percent of the cost of the two EPC contracts.
- SEPCO has agreed to consider taking an equity stake of 10 percent in EPL, which is to be formed in Pakistan by Oracle, after due diligence has been completed.
- A comprehensive EPC Term Sheet for the coal mine and power plant is expected to be agreed between Oracle and SEPCO by year-end 2014 in preparation for the final investment decision, and for groundwork to commence in mining and power plant development in 2015.
- Oracle has appointed Turner & Townsend and Mott MacDonald (leading international project consultants and managers with expertise in China), as technical advisers for the coal mine and power plant respectively and to manage the process of entering into EPC term sheets and contracts with SEPCO. The EPC contracts will be developed to comply with Oracle's technical requirements, Power Purchase Agreement, Coal Sales Agreement and other agreements to be entered with Oracle's Pakistan subsidiaries, and Pakistan authorities.
- Oracle and SEPCO aim to finalise the necessary documents within six months of this agreement and have entered an exclusive agreement for this period with possible extension by mutual agreement.
Entering the EPC Framework Agreement with and receiving a financing proposal from one of China's largest State-Owned Enterprises in the energy sector is another step towards bringing the project to reality, Oracle said in its press release.
“ Both SEPCO and Oracle are eager to succeed in the development of our integrated coal mine and power plant project and to play an effective role in addressing Pakistan's energy crisis,” said Shahrukh Khan, CEO of Oracle.
Liu Chuanming, Chairman of SEPCO, noted: “ We at SEPCO are confident of Oracle's endeavors to develop one of Pakistan's largest energy projects and are delighted to be Oracle's preferred EPC contractor and partner for the coal mine and power plant project.
Oracle has demonstrated its high standards in taking their project to this level that complements SEPCO standards in project execution and financing.
According to Oracle’s website, Oracle developing Pakistan's first large scale open pit coal mine. Oracle Coalfields is an AIM listed (AIM:ORCP) coal developer. The company’s primary interest is the Thar Coalfield Block VI licence area located in the Sindh Province, south-eastern Pakistan, a 1.4 billion tonnes resource with 529 million tonnes JORC mineral resource and 113 million tonnes JORC proven reserves within the mining area of the licence.
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Monday, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
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- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Australian Coal Association
- Bhushan Steel Limited - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
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