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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- ASAPP Information Group - India
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
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