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Friday, 03 September 10
BANPU CUTS INDONESIAN HOLDING BUT ITM REMAINS KEY STRATEGIC UNIT - BANGKOK POST
 "SET-listed Banpu Plc, Asean's largest coal miner, yesterday announced the sale of an 8.72% stake in its listed coalmining holding company in Indonesia, the company's largest coal operations, for US$395 million (12.3 billion baht)", Bangkok Post reported.
Bangkok post further said that, Under the terms of the transaction, Banpu Minerals (Singapore) Pte (BMS) sold 98.5 million shares in its PT Indo Tambangraya Megah (ITM) subsidiary for 36,150 rupiah apiece.
The divestment was made via a market placement to Indonesian and foreign institutional investors and is expected to close next Tuesday, Banpu said in a filing with the Stock Exchange of Thailand.
After the transaction, Banpu will remain the largest shareholder with 65% ownership of ITM, which owns five mines in Indonesia with an overall maximum annual capacity of 28.5 million tonnes. However, this year's planned output is only 23 million tonnes.
The main goal of the divestment is to strengthen Banpu's consolidated balance sheet, and the company's business stance in Indonesia will not change, said Somruedee Chaimongkol, the chief financial officer.
"The transaction will generate about $395 million in proceeds for BMS, helping to reinforce Banpu's balance sheet and establish a strong platform for the implementation of our five-year strategic plan," said Ms Somruedee.
Banpu has earmarked $189 million for investment in Indonesian mines from 2010-15.
"The reduction of our shareholding in ITM is minimal. This will not cause any change in our commitment to ITM or our proactive search for growth opportunities in Indonesia," said Ms Somruedee. "Our Indonesian coal business is still very much at the heart of Banpu's business strategy."
Listed on the Indonesian stock exchange, ITM is a profitable company with net cash, generating a net profit of about 6-7 billion baht a year for Banpu.
ITM's total output is set to rise by 17% to about 27 million tonnes next year with two new mines to become operational later this year and early next, said Kitichan Sirisukarcha, an analyst at Kim Eng Securities.
This will lift Banpu's capacity to cash in on rising coal prices, he said.
Kiatnakin Securities said tight supply and strong demand in Asia, especially from China, is projected to drive coal prices to $92-95 a tonne later this month from $90.60 at present, already a 10- week high.
Shares of Banpu closed yesterday on the Stock Exchange of Thailand at 626 baht, up six baht, in heavy trade worth 3.49 billion baht.
Source: Bangkok Post
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Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
Sunday, 05 September 10
HARUM ENERGY EYES 7.4 MILION TONS OF COAL OUTPUT IN 2010
Indonesia's coal miner PT Harum Energy Tbk, controlled by Indonesian tycoon Kiki Barki, is eyeing 7.4 million tons of coal production in 2010, a 27 ...
Sunday, 05 September 10
THE FREIGHT MARKET WAS BIT VOLATILE WITH NO CLEAR INDICATION OF THE MARKET - CAPT REDDY
COALsopot.com: The freight market was bit volatile with no clear indication of the market.
However the BDI continued the upward trend mainly due ...
Sunday, 05 September 10
NOROCHCHOLAI POWER PLANT TO BE COMMISSIONED ON JANUARY 1
Daily news reported that, the Norochcholai coal power plant will be commissioned on January 1, 2011 adding 300 megawatts to the national power grid ...
Friday, 03 September 10
NALCO, INDONESIAN FIRM DIFFER ON COAL SUPPLY TO SMELTER - DNA INDIA
A few days ago, National Aluminium Company (Nalco) advertised in Indonesian newspapers asking for companies to bid for coal supplies for its 500,000 ...
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- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- The University of Queensland
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
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