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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, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
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