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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 $30 million as of September. It forecasts reaching Rp 3.41 trillion in revenue this year, up from Rp 927 billion in 2010, and to make Rp 507 billion in profit, up from Rp 34 billion.
It does not plan to acquire more coal mines in the near future.
“We will focus on maximizing production in our current mines because we have quite a large reserve today,” said Krisnan, adding that the company has 849 million tons of thermal coal reserves.
Golden Energy sells most of its production to power companies and cement producers in Indonesia and abroad.
This year, the mining sector has lost 22 percent on the Indonesian Stock Exchange (IDX).
Source: The Jakarta Globe (By: Francezka Nangoy)
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Saturday, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Australian Coal Association
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- PTC India Limited - India
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