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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, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Xindia Steels Limited - India
- ASAPP Information Group - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
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