We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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 $30 million as of September. It forecasts reaching Rp 3.41 trillion in revenue this year, up from Rp 927 billion in 2010, and to make Rp 507 billion in profit, up from Rp 34 billion.
It does not plan to acquire more coal mines in the near future.
“We will focus on maximizing production in our current mines because we have quite a large reserve today,” said Krisnan, adding that the company has 849 million tons of thermal coal reserves.
Golden Energy sells most of its production to power companies and cement producers in Indonesia and abroad.
This year, the mining sector has lost 22 percent on the Indonesian Stock Exchange (IDX).
Source: The Jakarta Globe (By: Francezka Nangoy)
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
|
|
|
Showing 5016 to 5020 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
|
| |
| |
|
