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