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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, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
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- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- The Treasury - Australian Government
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