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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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Friday, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
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- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
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- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
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- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
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- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
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- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
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- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Australian Coal Association
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
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- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
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- The University of Queensland
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
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