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