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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, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- PTC India Limited - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
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