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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, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
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- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
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