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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, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
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- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
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