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