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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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Thursday, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
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- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
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