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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
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- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
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- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
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- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
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- Jaiprakash Power Ventures ltd
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- Australian Coal Association
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- The University of Queensland
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- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
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- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
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- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- New Zealand Coal & Carbon
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- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
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- Medco Energi Mining Internasional
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- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
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- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
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- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
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- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
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- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
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- Straits Asia Resources Limited - Singapore
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- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
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