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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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Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
Wednesday, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
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- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
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