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Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agenda to be included in its upcoming Extraordinary Meeting of Shareholders which is now due to be held on June 24, 2010.
"We submitted the agenda yesterday to the regulators. Essentially, this is the first step in a series of debt cutting moves to take place over the next 12 months, as we have earlier announced to the market and the public at large," says Dileep Srivastava, BUMI Senior Vice President of Investor Relations. As per regulation, the non-preemptive issue allows the company to issue new shares to a maximum of 10 percent of the total outstanding shares of the company with price at an average of previous 25-day trading closing price before the announcement date.
“We categorically reject the continuing wild media speculation of an impending rights issue by the company. We have never had any such plan nor is there an intent to do so” added Dileep, “We draw attention again to our media release dated 27 Jan 2010 cautioning our investment fraternity not to heed the wild speculation and rumors about our company but are encouraged to contact the company direct for facts”.
The non-preemptive issue was earlier announced in December 2009 last year, but was later postponed due to the prevailing market environment. This has now been revived in view of an improved environment and investor interest. "This deleveraging move will strengthen the company's fundamentals and serve to increase shareholders’ value, BUMI’s strategic intent is to reduce debt by around USD1 billion in the next 12 months”.
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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
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- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
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