COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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."



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

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 ...


   737 738 739 740 741   
Showing 3691 to 3695 news of total 6871
News by Category
Popular News
 
Total Members : 28,704
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • New Zealand Coal & Carbon
  • Bayan Resources Tbk. - Indonesia
  • DBS Bank - Singapore
  • Bukit Asam (Persero) Tbk - Indonesia
  • Therma Luzon, Inc, Philippines
  • Coalindo Energy - Indonesia
  • Rashtriya Ispat Nigam Limited - India
  • Xstrata Coal
  • Minerals Council of Australia
  • Russian Coal LLC
  • Berau Coal - Indonesia
  • Cargill India Pvt Ltd
  • Straits Asia Resources Limited - Singapore
  • Vizag Seaport Private Limited - India
  • Pendopo Energi Batubara - Indonesia
  • Coal Orbis AG
  • Thailand Anthracite
  • Wilmar Investment Holdings
  • Qatrana Cement - Jordan
  • Standard Chartered Bank - UAE
  • Toyota Tsusho Corporation, Japan
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • IBC Asia (S) Pte Ltd
  • Core Mineral Indonesia
  • Samtan Co., Ltd - South Korea
  • Chamber of Mines of South Africa
  • Surastha Cement
  • Petron Corporation, Philippines
  • Leighton Contractors Pty Ltd - Australia
  • Bangladesh Power Developement Board
  • PTC India Limited - India
  • TRAFIGURA, South Korea
  • Antam Resourcindo - Indonesia
  • Bangkok Bank PCL
  • AsiaOL BioFuels Corp., Philippines
  • HSBC - Hong Kong
  • CCIC - Indonesia
  • White Energy Company Limited
  • U S Energy Resources
  • PowerSource Philippines DevCo
  • Salva Resources Pvt Ltd - India
  • Vijayanagar Sugar Pvt Ltd - India
  • Edison Trading Spa - Italy
  • Cemex - Philippines
  • BRS Brokers - Singapore
  • IOL Indonesia
  • Wood Mackenzie - Singapore
  • Georgia Ports Authority, United States
  • Lanco Infratech Ltd - India
  • Krishnapatnam Port Company Ltd. - India
  • Kapuas Tunggal Persada - Indonesia
  • MEC Coal - Indonesia
  • RBS Sempra - UK
  • Tata Power - India
  • Japan Coal Energy Center
  • CESC Limited - India
  • Electricity Generating Authority of Thailand
  • Gresik Semen - Indonesia
  • Bank of China, Malaysia
  • Shenhua Group - China
  • bp singapore
  • TGV SRAAC LIMITED, India
  • Fearnleys - India
  • JPower - Japan
  • Moodys - Singapore
  • Bank of America
  • Ince & co LLP
  • CNBM International Corporation - China
  • GN Power Mariveles Coal Plant, Philippines
  • European Bulk Services B.V. - Netherlands
  • Ministry of Finance - Indonesia
  • Bharathi Cement Corporation - India
  • WorleyParsons
  • Videocon Industries ltd - India
  • Jorong Barutama Greston.PT - Indonesia
  • Borneo Indobara - Indonesia
  • Rio Tinto Coal - Australia
  • KOWEPO - South Korea
  • KEPCO - South Korea
  • Singapore Mercantile Exchange
  • Grasim Industreis Ltd - India
  • Ind-Barath Power Infra Limited - India
  • CIMB Investment Bank - Malaysia
  • MS Steel International - UAE
  • Rudhra Energy - India
  • Arutmin Indonesia
  • globalCOAL - UK
  • Chettinad Cement Corporation Ltd - India
  • TeaM Sual Corporation - Philippines
  • Platou - Singapore
  • Noble Europe Ltd - UK
  • Bulk Trading Sa - Switzerland
  • Eastern Energy - Thailand
  • OPG Power Generation Pvt Ltd - India
  • Australian Commodity Traders Exchange
  • Karaikal Port Pvt Ltd - India
  • Humpuss - Indonesia
  • PNOC Exploration Corporation - Philippines
  • IMC Shipping - Singapore
  • Energy Development Corp, Philippines
  • Gujarat Electricity Regulatory Commission - India
  • Alfred C Toepfer International GmbH - Germany
  • KPCL - India
  • APGENCO India
  • Attock Cement Pakistan Limited
  • Aditya Birla Group - India
  • Tamil Nadu electricity Board
  • Sakthi Sugars Limited - India
  • Heidelberg Cement - Germany
  • J M Baxi & Co - India
  • Lafarge - France
  • Sarangani Energy Corporation, Philippines
  • Mechel - Russia
  • South Luzon Thermal Energy Corporation
  • SN Aboitiz Power Inc, Philippines
  • BNP Paribas - Singapore
  • Barasentosa Lestari - Indonesia
  • Thai Mozambique Logistica
  • GVK Power & Infra Limited - India
  • SGS (Thailand) Limited
  • Latin American Coal - Colombia
  • Kumho Petrochemical, South Korea
  • Anglo American - United Kingdom
  • NTPC Limited - India
  • Parry Sugars Refinery, India
  • Miang Besar Coal Terminal - Indonesia
  • Jatenergy - Australia
  • Carbofer General Trading SA - India
  • Maybank - Singapore
  • ACC Limited - India
  • Coeclerici Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • Coaltrans Conferences
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Enel Italy
  • GNFC Limited - India
  • Cosco
  • Medco Energi Mining Internasional
  • Agrawal Coal Company - India
  • Aboitiz Power Corporation - Philippines
  • International Coal Ventures Pvt Ltd - India
  • Merrill Lynch Bank
  • Ambuja Cements Ltd - India
  • Australian Coal Association
  • Asmin Koalindo Tuhup - Indonesia
  • Eastern Coal Council - USA
  • Directorate General of MIneral and Coal - Indonesia
  • Idemitsu - Japan
  • GAC Shipping (India) Pvt Ltd
  • Parliament of New Zealand
  • Gupta Coal India Ltd
  • The University of Queensland
  • Holcim Trading Pte Ltd - Singapore
  • EIA - United States
  • Meralco Power Generation, Philippines
  • IEA Clean Coal Centre - UK
  • Meenaskhi Energy Private Limited - India
  • Thomson Reuters GRC
  • 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
  • UBS Singapore
  • SUEK AG - Indonesia
  • Uttam Galva Steels Limited - India
  • Mintek Dendrill Indonesia
  • Mercuria Energy - Indonesia
  • Intertek Mineral Services - Indonesia
  • Bahari Cakrawala Sebuku - Indonesia
  • Sical Logistics Limited - India
  • Asia Cement - Taiwan
  • 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
  • Tanito Harum - Indonesia
  • Romanian Commodities Exchange
  • Billiton Holdings Pty Ltd - Australia
  • Kobexindo Tractors - Indoneisa
  • Central Java Power - Indonesia
  • Total Coal South Africa
  • PLN Batubara - Indonesia
  • Cement Manufacturers Association - India
  • Sindya Power Generating Company Private Ltd
  • Platts
  • 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
  • PetroVietnam
  • Banpu Public Company Limited - Thailand
  • Mitsubishi Corporation
  • Reliance Power - India
  • Maersk Broker
  • Neyveli Lignite Corporation Ltd, - India
  • PLN - Indonesia
  • Shree Cement - India
  • Runge Indonesia
  • Inspectorate - India
  • Coal India Limited
  • CoalTek, United States
  • Kideco Jaya Agung - Indonesia
  • Maruti Cements - India
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Deutsche Bank - India
  • Permata Bank - Indonesia
  • Planning Commission, India
  • EMO - The Netherlands
  • Indo Tambangraya Megah - Indonesia
  • Oldendorff Carriers - Singapore
  • Barclays Capital - USA
  • Ministry of Mines - Canada
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Indogreen Group - Indonesia
  • Kepco SPC Power Corporation, Philippines
  • Petrosea - Indonesia
  • Energy Link Ltd, New Zealand
  • Coal and Oil Company - UAE
  • Price Waterhouse Coopers - Russia
  • Cardiff University - UK
  • San Jose City I Power Corp, Philippines
  • UOB Asia (HK) Ltd
  • Timah Investasi Mineral - Indoneisa
  • Semirara Mining and Power Corporation, Philippines
  • Power Finance Corporation Ltd., India
  • World Coal - UK
  • TNPL - India
  • Argus Media - Singapore
  • Economic Council, Georgia
  • Kalimantan Lumbung Energi - Indonesia
  • Bukit Baiduri Energy - Indonesia
  • The India Cements Ltd
  • Pinang Coal Indonesia
  • Malco - India
  • Maharashtra Electricity Regulatory Commission - India
  • Coastal Gujarat Power Limited - India
  • India Bulls Power Limited - India
  • Arch Coal - USA
  • Port Waratah Coal Services - Australia
  • Adani Power Ltd - India
  • Vale Mozambique
  • SASOL - South Africa
  • Indonesia Power. PT
  • Cebu Energy, Philippines
  • Gujarat Mineral Development Corp Ltd - India
  • Trasteel International SA, Italy
  • McKinsey & Co - India
  • Manunggal Multi Energi - Indonesia
  • Thriveni
  • Indian School of Mines
  • Essar Steel Hazira Ltd - India
  • Freeport Indonesia
  • NALCO India
  • Pipit Mutiara Jaya. PT, Indonesia
  • Mjunction Services Limited - India
  • Geoservices-GeoAssay Lab
  • Merrill Lynch Commodities Europe
  • Mitra SK Pvt Ltd - India
  • ETA - Dubai
  • Indian Oil Corporation Limited
  • Clarksons - UK
  • Interocean Group of Companies - India
  • McConnell Dowell - Australia
  • Larsen & Toubro Limited - India
  • Inco-Indonesia
  • 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
  • KPMG - USA
  • SRK Consulting
  • Directorate Of Revenue Intelligence - India
  • Indika Energy - Indonesia
  • Panama Canal Authority
  • Ernst & Young Pvt. Ltd.
  • Jindal Steel & Power Ltd - India
  • Kaltim Prima Coal - Indonesia
  • Marubeni Corporation - India
  • GMR Energy Limited - India
  • Mitsui
  • ING Bank NV - Singapore
  • ANZ Bank - Australia
  • World Bank
  • Siam City Cement - Thailand
  • Peabody Energy - USA
  • Commonwealth Bank - Australia
  • Vitol - Bahrain
  • Infraline Energy - India
  • The State Trading Corporation of India Ltd
  • Indorama - Singapore
  • Dalmia Cement Bharat India
  • GB Group - China
  • GHCL Limited - India
  • Metalloyd Limited - United Kingdom
  • Africa Commodities Group - South Africa
  • Altura Mining Limited, Indonesia
  • Kartika Selabumi Mining - Indonesia
  • Simpson Spence & Young - Indonesia
  • Adaro Indonesia
  • Samsung - South Korea
  • 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
  • TANGEDCO India
  • TNB Fuel Sdn Bhd - Malaysia
  • Globalindo Alam Lestari - Indonesia
  • Gujarat Sidhee Cement - India
  • Jaiprakash Power Ventures ltd
  • Baramulti Group, Indonesia
  • Sucofindo - Indonesia
  • Maheswari Brothers Coal Limited - India
  • Electricity Authority, New Zealand
  • OCBC - Singapore
  • Makarim & Taira - Indonesia
  • Karbindo Abesyapradhi - Indoneisa
  • Thermax Limited - India
  • 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
  • Asian Development Bank
  • Sinarmas Energy and Mining - Indonesia
  • Kobe Steel Ltd - Japan
  • Global Business Power Corporation, Philippines
  • Britmindo - Indonesia
  • Credit Suisse - India
  • JPMorgan - India
  • Orica Mining Services - Indonesia
  • Madhucon Powers Ltd - India
  • Global Green Power PLC Corporation, Philippines
  • Glencore India Pvt. Ltd