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