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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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- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
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