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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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Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
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- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
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