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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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Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Marubeni Corporation - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
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