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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, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
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- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
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