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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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- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
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