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