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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 $90.60 at present, already a 10- week high.
Shares of Banpu closed yesterday on the Stock Exchange of Thailand at 626 baht, up six baht, in heavy trade worth 3.49 billion baht.
Source: Bangkok Post
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Wednesday, 21 July 10
FEWER SHIPS SOLD FOR SCRAP IN JUNE, ADDING PRESSURE TO FREIGHT RATES
The easing of vessel tonnage supply should be among the main concerns among ship owners, especially those active in dry bulk shipping. The reason is ...
Wednesday, 21 July 10
BUKIT ASAM SEALS RP900 BIO COAL DEAL
Souce: Insider Stories
Insider Stories reported that, State-Owned coal producer PT Tambang Batubara Bukit Asam Tbk (PTBA) have agreed t ...
Wednesday, 21 July 10
TUAH TURANGGA BUYS ABP US$ 15.9 MIO
Source: Insider Stories
Insider Stories reported that, Komatsu heavy equipment PT United Tractors Tbk (UNTR) through its wh ...
Tuesday, 20 July 10
CHINA'S RELIANCE ON COAL TO DROP 7% BY 2015 - XINHUA NET
Xinhua Net reported that, China's coal consumption is likely to drop to 63 percent of total energy consumption by 2015, down from 70 percent last y ...
Tuesday, 20 July 10
CHURCHILL PLANNING TO PRODUCE 35 MILLION TONNES PER ANNUM FROM ITS EAST KUTAI COAL PROJECT
According to Churchill's website, the East Kutai Coal Project is a world-class thermal coal deposit, with a JORC Mining Reserve of 961 milli ...
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- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
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