Green Energy Resources to Supply China with 200,000 Tons of Woodchip Fuel

October 28, 2009 – Vol.14 No.32

Green Energy Resources to Supply China with 200,000 Tons of Woodchip Fuel.

The New York, New York-based company plans to use a U.S. west coast port for the shipments valued at about $20 million. The contract was originally signed by both parties in February of 2008. Rapidly escalating fuel, freight and container prices halted the order before operations could get underway last year in the peak of the fuel price run up that culminated in near $150 per barrel oil prices. The contract doubles the original quantity from 100,000 tons to 200,000 tons. Green Energy Resources looks to make the first shipment in November or December of this year. Shipping freight rates have been cheaper in the Pacific Basin as opposed to the Atlantic in 2009. Green Energy Resources is in the process of re-negotiating multiple contracts abrogated in 2008 due to fuel/ freight market conditions.

The company has also received a Letter of Intent from India earlier this month to supply upwards of 7 million tons of woodchips annually valued at approximately $576 million. Green Energy Resources continues to make progress in regard to locating available shipping freight options and discussions remain ongoing.

Green Energy Resources obtains its wood chip renewable fuel supplies from recycled woods, storm damage, urban wood waste streams and tree farms.(10/26/09)

Links:

Green Energy Resources
http://www.greenenergyresources.com

--- Green Energy Resources Signs Wood Pellet Export Orders Valued at $28 Million.

--- North America’s Unsung Energy Export: Wood Chips.

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes