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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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Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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Showing 2211 to 2215 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
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