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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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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
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