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Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
 COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, located some 30km to the north of Sakari’s Jembayan Mine in East Kalimantan.
According to statement posted on company’s website, under the HOA, Sakari will undertake an exploration programme and due diligence review and, if the results from these activities prove satisfactory to Sakari, the acquisition will proceed to completion.
Drilling of the properties will start in August 2012 with preliminary results expected towards the end of the year.
Sakari has paid an initial, refundable cash deposit of US$2 million. If the transaction moves to completion, Sakari will pay an additional US$2 million in cash plus an equity component, which will be determined by reference to the results from the drilling programme and the number of IUPs to be acquired.
The total equity consideration is capped at US$60 million in value, should Sakari decide to acquire an interest in all the IUPs.
The statement further said that, the HOA is between PT Separi Energy, a subsidiary of Sakari Resources Limited, and Rudy Ong Chandra and Hairil Hasmy (Sellers). Under the HOA Separi Energy may acquire 100% of the shares in all or any of PT Sepiak Jaya Kaltim, PT Cahaya Bara Kaltim, PT Bunga Jadi Lestari and PT Anugerah Pancaran Bulan, the companies which own the exploration IUP’s.
The book value, net tangible asset value and open market value of the companies have not yet been determined and they have not yet commenced business.
About Sakari:
Sakari (SGX: SAR) is a coal company with a focus on supplying thermal coal to major power utilities and industrial users in Asia. Production from Indonesia in 2011 was 10.7Mt, making it one of the country’s largest thermal coal exporters.
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Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
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- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Planning Commission, India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
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