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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, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Australian Coal Association
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
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