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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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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
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- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- MS Steel International - UAE
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
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