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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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Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- The University of Queensland
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
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