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Wednesday, 06 April 11
FORBES & MANHATTAN COAL ANNOUNCES SIGNIFICANT OFF TAKE AGREEMENT
Steady Cash Flow Will Fund Production Ramp Up
Forbes & Manhattan Coal Corp., ("Forbes Coal" or the "Company") is a producer of high quality bituminous coal and Anthracite from mines in the Klipriver coalfield, near Dundee, in the KwaZulu Natal province of South Africa has signed a three year offtake agreement for 1.75 million tonnes (total) with Vitol S.A. ("Vitol"), a leading energy trading company, according to Forbescoal website.
Vitol will be purchasing thermal coal from the Slater Coal properties at market prices.
Forbes Coal's website further said, cash flow from this offtake agreement will fund the continued ramping up of production at its two operating mines – Magdalena and Aviemore. The agreement is initially for three years and will support the previously announced production expansion plans.
Forbes Coal intends to transport the coal to the Navitrade Coal Terminal in Richards Bay using its increased rail transport and capacity with Transnet Freight Rail and Grindrod Terminals. Grindrod Terminals provides certain logistical, handling and stockpiling services to shippers in connection with the shipment of bulk cargoes. As per the press release of December 7, 2010, Grindrod Terminals shall provide Forbes Coal with export coal capacity in the Terminal of 600,000 metric tonnes in 2011, 720,000 metric tonnes in 2012 and 960,000 metric tonnes in 2013.
"This milestone for Forbes Coal will support our planned expansion into the coal export market. We have seen a steady increase in export prices over the past 12 months, driven by an increase in demand from India. Together with our increased export capacity at Richard's Bay, the Company is on track to establish itself as a mid-tier Southern African coal company." said Stephan Theron, President and Chief Executive Officer of Forbes Coal.
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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- ASAPP Information Group - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
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