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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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Tuesday, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
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