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Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to China Investment Corporation (CIC) as part of the debt settlement agreement announced on October 9, 2013.
According to BUMI's press release, a sum of US$ 1.989 billion is due to CIC as loan principal, deferred interest and make-whole costs. With this transfer of KPC stakes, the amount payable to CIC stands reduced to US$ 1.039 billion.
BUMI's press note further said that, 42% of BUMI's holding in PT. Bumi Resources Minerals Tbk., ( valued at US$ 257 million) and US$ 150 Million BUMI equity are expenses to be transferred to CIC by September 2014, following the closure of the BUMI rights offering approved on June 30, 2014.
Consequentially, the residual loan to CIC would reduce further to US$ 632 million, at an interest rate of LIBOR+6.7% per annum. No interest or principal is payable in the first 12 months, principal is payable semi annually over the next 2 years, whilst interest is paid monthly from the 13th month onwards.
Mr. Ari Hudaya, President Director, said, "This is a first major step in restoring financial health and a proof of company commitment to reduce debt. We welcome CIC as our equity partner and look forward to grow our assets from strength to strength. Fundamentally, the company is strong, has build annual coal capacity exceeding 90 million tons and significantly raised all round efficiencies in operations and costs"
He added, "We are confident our revised capital structure coupled with the recovery of coal prices would enable us regain health and return to company back to profit."
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Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
Wednesday, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
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- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- VISA Power Limited - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
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