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Friday, 20 August 10
OVERSEAS AND GENERAL SUBSIDIARY INKS US$52M JONGKANG COAL SALES CONTRACT - PROACTIVE INVESTORS
 Proactive Investors reported that, overseas and General (ASX: OGL) has reported that its Indonesian majority owned subsidiary, PT OGL Indotrade, has entered into a binding offer for the sale of its premium quality Jongkang coal with a Chinese power utility.
This is a final step prior to executing a sales contract for the supply of 50,000 tonnes per month commencing September 2010 at an FOB vessel price of U$80 per tonne for 6,300 cal/kg GCV coal.
Jack Tan, chairman, said the coal sales will provide OGL Indotrade with a revenue stream of $52 million per annum and has the capacity to transform OGL into a successful coal player.
Bonuses and penalties exist for any variation of coal quality. Following the successful delivery of a 40,000 tonne trial cargo, the contract will have a 12-month term.
The Jongkang Coal Mine is located near Tenggarong in East Kalimantan, Indonesia. The lease is a 94-hectare IUP Exploitation with all permits in order for immediate mine operations.
Jongkang’s 25,000 tonnes per month product will be complemented by the purchase of coal from a neighbouring supplier, to allow the company to sell 50,000 tonnes per month from September 2010.
The resultant operation will provide the company with revenues of U$4.0 million per month or U$52 million per annum.
Jongkang coal is a premium product with adb GCV 6950 cal/g, 2% ash and 0.7% sulphur. It will be blended down to GCV 6300 to meet the required Chinese specifications, commanding a strong sales price.
OGL's joint venture arrangement in Indonesia is with Malaysian owned group, Golden Focus Group Limited (Hong Kong) and their Indonesian entity, PT Indotrade Resources, which is a successful coal miner in Indonesia producing around 2mtpa of export grade steaming coal from East Kalimantan to China and Korea.
PT OGL Indotrade Resources has rights to mine and sell coal from the Rahmat, Jongkang, Pagar and Jambi coal tenements.
OGL aims to become a medium sized producer of metallurgical and steaming coal in Australia and Indonesia, both major coal producing nations.
Source: Proactive Investors
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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Minerals Council of Australia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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