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