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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, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
Wednesday, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
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- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- PTC India Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
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