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Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
 The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to deal with the future of its business there.
A source said the sale was a result of cabotage laws in Indonesia and the current trend where large coal mines were moving to take control of the logistics of shipping coal.
The buyer, said to be involved in the coal business, would become a strategic partner for Scomi Marine’s business in Indonesia.
“A big boy in the business is coming in,” said the source.
The marine logistics business of Scomi Marine primarily involves the transportation and provision of logistics support for major coal producers in Indonesia.
According to its annual report, the company carried almost 28 million tonnes of coal in 2009, 3% lower than in 2008 due to the slowdown in coal demand.
Scomi Marine yesterday halted trading in its stock on Bursa Malaysia until the close of trading on Tuesday.
The company said in a filing the suspension of trading was to facilitate a material corporate exercise involving a substantial transaction which would entail the disposal of certain subsidiaries of the company.
No further details were given. The stock closed up 2.5 sen yesterday at 43 sen after surging nearly 18% this week.
Scomi Marine has an 80.54% stake in PT Rig Tenders Indonesia Tbk, a company listed on the Jakarta Stock Exchange.
According to its website, Rig Tenders is involved in the chartering of tugs and barges to transport coal and other bulk aggregates as well as chartering of supply vessels, work-over and accommodation barges to support the offshore oil and gas industry.
Rig Tenders currently owns and operates a fleet of 53 vessels consisting of 10 supply vessels, 25 tug boats, two accommodation/work-over barges, nine flat-top barges and seven self-discharging barges. It has 491 personnel, including 437 contractual workers.
For its first quarter ended March 31, Scomi Marine’s net profit nearly doubled to RM21.9mil from RM11.1mil in the previous corresponding period.
Revenue was marginally lower at RM102.8mil compared with RM110.4mil previously.
In April, Scomi Marine completed the sale of a 29.07% stake in Singapore-listed CH Offshore Ltd for S$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
Tuesday, 27 July 10
DRY BULK SPOT CARGO DEMAND SHARPLY UP, TRIGGERING RISE IN RATES
Hot on the heels of the dry bulk market’s first weekly gain in almost two months, Monday began on a similar note, with the Baltic Dry Index (B ...
Tuesday, 27 July 10
KANGAROO RESOURCES INKS 297MT COAL RESOURCE FOR TANUR JAYA PROJECT
Kangaroo Resources has reported JORC Code compliant open cut Coal Resources totalling 297 million tonnes for the Tanur Jaya Coal Project in East Kal ...
Monday, 26 July 10
INDONESIAN COAL PRICE REFERENCE FOR JULY 2010 IS US$ 96.65 PER TON FOB VESSEL
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Monday, 26 July 10
BHATIA INTERNATIONAL, MIGHT GRAB THE MAJORITY OF COAL SUPPLY ORDER FROM MAHAGENCO
COALspot.com: Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, has received price bids from ...
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- Sarangani Energy Corporation, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
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- Australian Coal Association
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- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
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- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
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- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
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- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
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- Global Business Power Corporation, Philippines
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- Maheswari Brothers Coal Limited - India
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- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
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- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
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- Australian Commodity Traders Exchange
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- Georgia Ports Authority, United States
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- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
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- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Planning Commission, India
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- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
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- Orica Australia Pty. Ltd.
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- TeaM Sual Corporation - Philippines
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- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
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- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Agrawal Coal Company - India
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- Mjunction Services Limited - India
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- IEA Clean Coal Centre - UK
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