In Petrocom’s business model, the supplier first delivers coal to the LYG port. The coal is then earmarked for Petrocom but remains the property of the supplier. Once Petrocom finds a buyer for a specific type of blended coal, it then takes the raw coal from the stockyard as needed purchasing only what is required to make the blended coal which was ordered. After the raw coal is accepted by Petrocom, it has around 30 days to pay.
Currently, Petrocom has received approximately thirty thousand tonnes of coal on credit fromShanxiat its LYG plant as a trial of this coal on credit strategy. The fact that Petrocom was able to have the coal delivered on these terms validates this business model. Nevertheless, Petrocom has not yet begun operations as the current coal markets remain weak. The coal on credit scheme as protected Petrocom from adverse pricing movements as it decided the right time to enter the market.
A second shipment of coal arrived at Lianyungangport on 17 December 2014 aboard the ship “You Wei”. Armed with multiple varieties of coal in its inventory, Petrocom’s coal blending operation is ready to begin.
We are pleased to announce that Petrocom has received the Invention Patent Certificate for its coal blending system and corresponding coal feeder issued by China State Intellectual Property Office. The award of the invention patent confirms that Petrocom recognized as an innovator by the Patent Authority.
Petrocom‘s coal blending system is integrated with computerized control technology which allows for the plant to produce coal blends on demand. The specially designed coal feeder enables precise discharge of coal according to pre-determined formula while the programmable controller controls all parts of the coal blending system to ensure high level of efficiency and precision. The current stockyard blending used by power plants is unable to achieve such precise and consistent quality of output. Only CBF compliant coal could accommodate the specific requirements of individual power plants which at the same time also enhances their boiler efficiency.
An invention patent is valid for 20 years from the date of application which means Petrocom‘s CBF technology and business are under protection, preventing others from copying or using its technology without Petrocom’s consent up to September 2029.
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