COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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”.



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

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 ...


   1164 1165 1166 1167 1168   
Showing 5826 to 5830 news of total 6871
News by Category
Popular News
 
Total Members : 28,619
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Chamber of Mines of South Africa
  • Mercator Lines Limited - India
  • Minerals Council of Australia
  • ACC Limited - India
  • San Jose City I Power Corp, Philippines
  • Arutmin Indonesia
  • GAC Shipping (India) Pvt Ltd
  • Goldman Sachs - Singapore
  • SRK Consulting
  • Samtan Co., Ltd - South Korea
  • Adaro Indonesia
  • Uttam Galva Steels Limited - India
  • Cardiff University - UK
  • Karaikal Port Pvt Ltd - India
  • Baramulti Group, Indonesia
  • Energy Development Corp, Philippines
  • Shree Cement - India
  • Kalimantan Lumbung Energi - Indonesia
  • SN Aboitiz Power Inc, Philippines
  • bp singapore
  • Bukit Baiduri Energy - Indonesia
  • Coalindo Energy - Indonesia
  • Semirara Mining Corp, Philippines
  • JPMorgan - India
  • CNBM International Corporation - China
  • Peabody Energy - USA
  • Oldendorff Carriers - Singapore
  • White Energy Company Limited
  • Platts
  • Kaltim Prima Coal - Indonesia
  • Africa Commodities Group - South Africa
  • APGENCO India
  • Orica Mining Services - Indonesia
  • Riau Bara Harum - Indonesia
  • Edison Trading Spa - Italy
  • Kumho Petrochemical, South Korea
  • Vijayanagar Sugar Pvt Ltd - India
  • Mjunction Services Limited - India
  • Savvy Resources Ltd - HongKong
  • Russian Coal LLC
  • Vale Mozambique
  • Independent Power Producers Association of India
  • OPG Power Generation Pvt Ltd - India
  • Coaltrans Conferences
  • Infraline Energy - India
  • Straits Asia Resources Limited - Singapore
  • GNFC Limited - India
  • Cemex - Philippines
  • Alfred C Toepfer International GmbH - Germany
  • Sinarmas Energy and Mining - Indonesia
  • India Bulls Power Limited - India
  • CoalTek, United States
  • Enel Italy
  • IOL Indonesia
  • Humpuss - Indonesia
  • Metalloyd Limited - United Kingdom
  • Sucofindo - Indonesia
  • Georgia Ports Authority, United States
  • Coal and Oil Company - UAE
  • Cigading International Bulk Terminal - Indonesia
  • SGS (Thailand) Limited
  • Directorate Of Revenue Intelligence - India
  • Indonesian Coal Mining Association
  • Sojitz Corporation - Japan
  • GMR Energy Limited - India
  • Japan Coal Energy Center
  • CESC Limited - India
  • Vedanta Resources Plc - India
  • Ambuja Cements Ltd - India
  • PNOC Exploration Corporation - Philippines
  • World Bank
  • Surastha Cement
  • UBS Singapore
  • Gujarat Electricity Regulatory Commission - India
  • Cebu Energy, Philippines
  • Wilmar Investment Holdings
  • The University of Queensland
  • Thomson Reuters GRC
  • Glencore India Pvt. Ltd
  • Bangladesh Power Developement Board
  • JPower - Japan
  • Mintek Dendrill Indonesia
  • Lanco Infratech Ltd - India
  • Thriveni
  • Larsen & Toubro Limited - India
  • SASOL - South Africa
  • GHCL Limited - India
  • Kapuas Tunggal Persada - Indonesia
  • Core Mineral Indonesia
  • GB Group - China
  • Deloitte Consulting - India
  • ANZ Bank - Australia
  • The Treasury - Australian Government
  • Mechel - Russia
  • Kobexindo Tractors - Indoneisa
  • ICICI Bank Limited - India
  • TeaM Sual Corporation - Philippines
  • Orica Australia Pty. Ltd.
  • Gupta Coal India Ltd
  • Vizag Seaport Private Limited - India
  • Freeport Indonesia
  • KPMG - USA
  • Sarangani Energy Corporation, Philippines
  • UOB Asia (HK) Ltd
  • IMC Shipping - Singapore
  • Central Electricity Authority - India
  • Central Java Power - Indonesia
  • Geoservices-GeoAssay Lab
  • Lafarge - France
  • Global Coal Blending Company Limited - Australia
  • Thailand Anthracite
  • VISA Power Limited - India
  • Xindia Steels Limited - India
  • Billiton Holdings Pty Ltd - Australia
  • KPCL - India
  • NALCO India
  • NTPC Limited - India
  • Kepco SPC Power Corporation, Philippines
  • Eastern Coal Council - USA
  • Petrosea - Indonesia
  • SUEK AG - Indonesia
  • Gresik Semen - Indonesia
  • Qatrana Cement - Jordan
  • Bhatia International Limited - India
  • ING Bank NV - Singapore
  • Ince & co LLP
  • Meenaskhi Energy Private Limited - India
  • Rashtriya Ispat Nigam Limited - India
  • Cement Manufacturers Association - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Coal Orbis AG
  • Kobe Steel Ltd - Japan
  • Standard Chartered Bank - UAE
  • Tanito Harum - Indonesia
  • Clarksons - UK
  • Karbindo Abesyapradhi - Indoneisa
  • Indonesia Power. PT
  • Reliance Power - India
  • Simpson Spence & Young - Indonesia
  • Parry Sugars Refinery, India
  • Rio Tinto Coal - Australia
  • OCBC - Singapore
  • Bhoruka Overseas - Indonesia
  • Cargill India Pvt Ltd
  • Mitra SK Pvt Ltd - India
  • Jorong Barutama Greston.PT - Indonesia
  • Siam City Cement PLC, Thailand
  • Maheswari Brothers Coal Limited - India
  • Krishnapatnam Port Company Ltd. - India
  • Maersk Broker
  • Bahari Cakrawala Sebuku - Indonesia
  • World Coal - UK
  • TANGEDCO India
  • Barasentosa Lestari - Indonesia
  • Star Paper Mills Limited - India
  • Holcim Trading Pte Ltd - Singapore
  • KOWEPO - South Korea
  • GVK Power & Infra Limited - India
  • Formosa Plastics Group - Taiwan
  • Merrill Lynch Bank
  • Aboitiz Power Corporation - Philippines
  • Thai Mozambique Logistica
  • Bangkok Bank PCL
  • Australian Commodity Traders Exchange
  • Miang Besar Coal Terminal - Indonesia
  • SMG Consultants - Indonesia
  • Australian Coal Association
  • New Zealand Coal & Carbon
  • Indian Oil Corporation Limited
  • Port Waratah Coal Services - Australia
  • PLN - Indonesia
  • Thermax Limited - India
  • Electricity Generating Authority of Thailand
  • Coal India Limited
  • GN Power Mariveles Coal Plant, Philippines
  • Essar Steel Hazira Ltd - India
  • PLN Batubara - Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • Wood Mackenzie - Singapore
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Energy Link Ltd, New Zealand
  • Maybank - Singapore
  • Indian Energy Exchange, India
  • Ministry of Finance - Indonesia
  • LBH Netherlands Bv - Netherlands
  • Permata Bank - Indonesia
  • Sical Logistics Limited - India
  • ETA - Dubai
  • TGV SRAAC LIMITED, India
  • Idemitsu - Japan
  • U S Energy Resources
  • MS Steel International - UAE
  • Berau Coal - Indonesia
  • TRAFIGURA, South Korea
  • Sakthi Sugars Limited - India
  • Globalindo Alam Lestari - Indonesia
  • Parliament of New Zealand
  • Fearnleys - India
  • London Commodity Brokers - England
  • Thiess Contractors Indonesia
  • The India Cements Ltd
  • Global Business Power Corporation, Philippines
  • Directorate General of MIneral and Coal - Indonesia
  • Shenhua Group - China
  • Meralco Power Generation, Philippines
  • Barclays Capital - USA
  • Binh Thuan Hamico - Vietnam
  • Panama Canal Authority
  • Borneo Indobara - Indonesia
  • McKinsey & Co - India
  • Deutsche Bank - India
  • Pinang Coal Indonesia
  • European Bulk Services B.V. - Netherlands
  • Intertek Mineral Services - Indonesia
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Total Coal South Africa
  • Madhucon Powers Ltd - India
  • Economic Council, Georgia
  • Bank of China, Malaysia
  • Marubeni Corporation - India
  • Pipit Mutiara Jaya. PT, Indonesia
  • Kohat Cement Company Ltd. - Pakistan
  • Coeclerici Indonesia
  • Renaissance Capital - South Africa
  • Inspectorate - India
  • Carbofer General Trading SA - India
  • Sree Jayajothi Cements Limited - India
  • Indian School of Mines
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Xstrata Coal
  • Vitol - Bahrain
  • The State Trading Corporation of India Ltd
  • Medco Energi Mining Internasional
  • TNB Fuel Sdn Bhd - Malaysia
  • Maruti Cements - India
  • International Coal Ventures Pvt Ltd - India
  • Cosco
  • SMC Global Power, Philippines
  • Asia Cement - Taiwan
  • J M Baxi & Co - India
  • Jindal Steel & Power Ltd - India
  • Power Finance Corporation Ltd., India
  • Altura Mining Limited, Indonesia
  • BNP Paribas - Singapore
  • PetroVietnam
  • Siam City Cement - Thailand
  • Asian Development Bank
  • PetroVietnam Power Coal Import and Supply Company
  • Dalmia Cement Bharat India
  • Romanian Commodities Exchange
  • TNPL - India
  • Petron Corporation, Philippines
  • Posco Energy - South Korea
  • IEA Clean Coal Centre - UK
  • Banpu Public Company Limited - Thailand
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Noble Europe Ltd - UK
  • EIA - United States
  • ASAPP Information Group - India
  • Toyota Tsusho Corporation, Japan
  • Bukit Asam (Persero) Tbk - Indonesia
  • Videocon Industries ltd - India
  • Semirara Mining and Power Corporation, Philippines
  • Adani Power Ltd - India
  • McConnell Dowell - Australia
  • Arch Coal - USA
  • KEPCO - South Korea
  • Grasim Industreis Ltd - India
  • PTC India Limited - India
  • Argus Media - Singapore
  • Anglo American - United Kingdom
  • MEC Coal - Indonesia
  • Bharathi Cement Corporation - India
  • Kideco Jaya Agung - Indonesia
  • Platou - Singapore
  • Credit Suisse - India
  • Asmin Koalindo Tuhup - Indonesia
  • Coastal Gujarat Power Limited - India
  • Trasteel International SA, Italy
  • Singapore Mercantile Exchange
  • Eastern Energy - Thailand
  • Leighton Contractors Pty Ltd - Australia
  • Rudhra Energy - India
  • Aditya Birla Group - India
  • Antam Resourcindo - Indonesia
  • EMO - The Netherlands
  • Makarim & Taira - Indonesia
  • Electricity Authority, New Zealand
  • Pendopo Energi Batubara - Indonesia
  • Commonwealth Bank - Australia
  • Jaiprakash Power Ventures ltd
  • Price Waterhouse Coopers - Russia
  • Neyveli Lignite Corporation Ltd, - India
  • Ministry of Transport, Egypt
  • South Luzon Thermal Energy Corporation
  • Gujarat Mineral Development Corp Ltd - India
  • Maharashtra Electricity Regulatory Commission - India
  • Inco-Indonesia
  • Runge Indonesia
  • Indogreen Group - Indonesia
  • Bukit Makmur.PT - Indonesia
  • Manunggal Multi Energi - Indonesia
  • Malabar Cements Ltd - India
  • Agrawal Coal Company - India
  • RBS Sempra - UK
  • Merrill Lynch Commodities Europe
  • Tamil Nadu electricity Board
  • Timah Investasi Mineral - Indoneisa
  • DBS Bank - Singapore
  • Tata Power - India
  • Iligan Light & Power Inc, Philippines
  • Kartika Selabumi Mining - Indonesia
  • Jatenergy - Australia
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Tata Chemicals Ltd - India
  • Britmindo - Indonesia
  • HSBC - Hong Kong
  • globalCOAL - UK
  • Malco - India
  • Bank of America
  • Salva Resources Pvt Ltd - India
  • AsiaOL BioFuels Corp., Philippines
  • Moodys - Singapore
  • IHS Mccloskey Coal Group - USA
  • Ministry of Mines - Canada
  • BRS Brokers - Singapore
  • IBC Asia (S) Pte Ltd
  • Indorama - Singapore
  • Indika Energy - Indonesia
  • Chettinad Cement Corporation Ltd - India
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • CCIC - Indonesia
  • Heidelberg Cement - Germany
  • Ernst & Young Pvt. Ltd.
  • Mitsui
  • Samsung - South Korea
  • PowerSource Philippines DevCo
  • Latin American Coal - Colombia
  • Bulk Trading Sa - Switzerland
  • Therma Luzon, Inc, Philippines
  • Global Green Power PLC Corporation, Philippines
  • Interocean Group of Companies - India
  • CIMB Investment Bank - Malaysia
  • Planning Commission, India
  • Gujarat Sidhee Cement - India
  • Bayan Resources Tbk. - Indonesia
  • Ind-Barath Power Infra Limited - India
  • Mercuria Energy - Indonesia
  • Attock Cement Pakistan Limited
  • Indo Tambangraya Megah - Indonesia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Sindya Power Generating Company Private Ltd
  • Mitsubishi Corporation
  • WorleyParsons
  • Bhushan Steel Limited - India