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Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
 COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of SKJM Port in South Kalimantan, Indonesia to secure exclusive barge loading capacity in excess of 200,000 tonnes per month for a term of 10 years.
According to company's press release, the company has secured exclusive 10 year agreement with SKJM Port operators in South Kalimantan. Initially Orpheus to be responsible for allocation of loading slots for 5 years. The agreement is allowing Orpheus to extend for another 5 years.
Initially around 150,000 tonnes tons of coal to be handled per month through the port and it will increase to around 200,000 tonnes/month (up to 3Mtpa) after port upgrade. First barge to be loaded immediately, according to the company’s note.
Orpheus Executive Chairman, Wayne Mitchell, commented: “We are delighted to announce this highly material infrastructure development which will provide robust cash flows for Orpheus. We have been working on this deal for a significant period of time and the execution of the SKJM Port agreement fundamentally changes our company from a modest producer and seller of coal, to a vertically integrated mining company of significant size.
“Orpheus has continued to progress its strategic objective to manage its entire coal chain from mine mouth to end buyer, and encouragingly, the company now has the capacity to do that. Given challenging market conditions, Orpheus has adapted extremely well to diversify its revenue streams and this agreement, along with our existing mining and trading operations, is another important step in the company working towards its goal of becoming cash flow positive.”
“We are particularly pleased we were able to negotiate a very favourable arrangement with one of our customers to fund the acquisition and development cost and the structure of this deal means we can avoid the dilution of existing shareholders”, he concluded.
Highlights include:
-- Exclusive 10 year agreement with SKJM Port operators in South Kalimantan, initially for 5 years, with an extension for another 5 years at Orpheus’s option
-- Initially 150,000 tonnes/month increasing to 200,000+ tonnes/month (up to 3Mtpa) after port upgrade: First barge to be loaded immediately
-- Orpheus to be responsible for allocation of loading slots
-- First infrastructure deal demonstrating stated vertical integration strategy
-- Strategic infrastructure platform to increase revenues
-- Acquisition and development costs to be funded off balance sheet by local infrastructure investor with principal to be repaid by SKJM Port
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Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
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