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Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
 The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public offering planned next month to as much as $250 million, less than half the original price, due to market volatility.
The Jakarta-based company plans to sell 882.35 million shares, or a 15 percent stake, at a price range of Rp 2,300 to Rp 3,500 each. Golden Energy initially planned to sell 1.2 billion shares, or 20 percent of total shares, to raise $550 million.
The company is a unit of energy and infrastructure firm Dian Swastatika Sentosa, which will own 85 percent of Golden Energy after the initial public offering.
“Considering the volatile global market, we decided to adjust,” said Kokarjadi Chandra, president director of Sinarmas Sekuritas, the sole underwriter. He said a 15 percent share sale can generate the money Golden Energy needs for its capital expenditure.
The company will use most of the proceeds for infrastructure, working capital and an expansion of its subsidiary. Ten percent of the proceeds — or about $25 million — will go to pay off debt, valued at about $40 million and mostly owed to Dian Swastatika Sentosa, said Golden Energy president director L. Krisnan Cahya.
The bookbuilding is scheduled from Oct. 21-24, and Golden Energy will be listed on the Indonesia Stock Exchange on Nov. 11.
Golden Energy is targeting 6 million tons in coal production this year, three times higher than last year. Krisnan said production had reached 4 million tons as of September. The company expects to produce 10 million tons by 2012 and 14 million tons by 2013.
Golden Energy moved closer to its goal by opening a new pit in Kalimantan that has about 200 million tons in reserves and will produce 2.5 millions tons this year, company director Yudha Wibawa said. A new port with an annual capacity of 40 million tons, will also help with shipments.
The company expects to set aside Rp 1.36 trillion in capital expenditure up to 2016. It set Rp 501.99 billion in capital expenditure for this year, and Krisnan said it had spent about $30 million as of September. It forecasts reaching Rp 3.41 trillion in revenue this year, up from Rp 927 billion in 2010, and to make Rp 507 billion in profit, up from Rp 34 billion.
It does not plan to acquire more coal mines in the near future.
“We will focus on maximizing production in our current mines because we have quite a large reserve today,” said Krisnan, adding that the company has 849 million tons of thermal coal reserves.
Golden Energy sells most of its production to power companies and cement producers in Indonesia and abroad.
This year, the mining sector has lost 22 percent on the Indonesian Stock Exchange (IDX).
Source: The Jakarta Globe (By: Francezka Nangoy)
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Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
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- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
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