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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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Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
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- Latin American Coal - Colombia
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- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
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- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
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