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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, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
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- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
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