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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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- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Minerals Council of Australia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
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