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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
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Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
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Tuesday, 17 March 20
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Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
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Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
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- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- The University of Queensland
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
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