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Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
 The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 million stake in Bumi Resources, Indonesia’s largest coal producer.
Bakrie financial director Eddy Soeparno said Glencore had bought the stock since June. “We have an option to buy back the stake from Glencore within two years,” Soeparno said.
Based on Bumi’s average closing share price and the rupiah’s exchange rate, the deal may mean Glencore has about a 5 percent stake in Bumi.
Eddy said Glencore — a marketing agent for Bumi coal — saw Bumi shares appreciating.
Bumi director Dileep Srivastava confirmed on Wednesday that Glencore had been acquiring shares but would not say how many.
“Based on [Bumi’s] financial records released on June 30, no one company owns more than 5 percent of Bumi’s shares, except for Bakrie & Brothers, which owns 21 percent in several blocks,” he said.
Bakrie & Brothers is the holding company controlled by the family of Aburizal Bakrie, a business tycoon and politician.
Privately held Glencore has become a global marketing agent outside Japan for Kaltim Prima Coal, Bumi’s main coal mining unit.
Glencore supplies metals, minerals, oil products, coal and agricultural products to companies in more than 40 countries. Its sales turnover for the 2009 fiscal year was $106.4 billion, and its assets were $66.3 billion at the end of 2009.
Glencore spokesman Carlos Perezagua declined to comment.
A source at Bakrie & Brothers said the investment holding firm did not have enough cash to increase its stake in Bumi but also saw a potential upside for the miner’s shares.
Bumi stock has tumbled 29 percent this year, underperforming the Jakarta Composite Index’s 27 percent rise, because of concerns about corporate governance and high debt. Its forward PE ratio is 6.15, versus 10.36 for rival Adaro Energy.
Source: The Jakarta Globe
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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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Showing 5611 to 5615 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
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