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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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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
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