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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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Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- PTC India Limited - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
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