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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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Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
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- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
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