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