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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, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
Thursday, 08 May 14
'TRIAL BY MEDIA, TRIAL BY LAW' - A REPORT FROM TRACK 1 OF BIMCO'S ANNUAL CONFERENCE DUBAI 2014
KNOWLEDGE TO ELEVATE
Aiming to bring a very different type of event into their annual conference, BIMCO presented ‘Double Jeopardy &n ...
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Showing 3711 to 3715 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Planning Commission, India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
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