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