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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Australian Coal Association
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
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