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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$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
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- Salva Resources Pvt Ltd - India
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- The Treasury - Australian Government
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- Coalindo Energy - Indonesia
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- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
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- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
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- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
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- Ceylon Electricity Board - Sri Lanka
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- GAC Shipping (India) Pvt Ltd
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- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
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- London Commodity Brokers - England
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- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
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- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
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- Bukit Asam (Persero) Tbk - Indonesia
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- Bharathi Cement Corporation - India
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- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Romanian Commodities Exchange
- VISA Power Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
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- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
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- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
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- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
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