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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
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