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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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- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
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