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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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Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY 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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
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- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
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