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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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- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- 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
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- The University of Queensland
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- 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
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- 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
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- 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
- Bhushan Steel Limited - India
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