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Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agenda to be included in its upcoming Extraordinary Meeting of Shareholders which is now due to be held on June 24, 2010.
"We submitted the agenda yesterday to the regulators. Essentially, this is the first step in a series of debt cutting moves to take place over the next 12 months, as we have earlier announced to the market and the public at large," says Dileep Srivastava, BUMI Senior Vice President of Investor Relations. As per regulation, the non-preemptive issue allows the company to issue new shares to a maximum of 10 percent of the total outstanding shares of the company with price at an average of previous 25-day trading closing price before the announcement date.
“We categorically reject the continuing wild media speculation of an impending rights issue by the company. We have never had any such plan nor is there an intent to do so” added Dileep, “We draw attention again to our media release dated 27 Jan 2010 cautioning our investment fraternity not to heed the wild speculation and rumors about our company but are encouraged to contact the company direct for facts”.
The non-preemptive issue was earlier announced in December 2009 last year, but was later postponed due to the prevailing market environment. This has now been revived in view of an improved environment and investor interest. "This deleveraging move will strengthen the company's fundamentals and serve to increase shareholders’ value, BUMI’s strategic intent is to reduce debt by around USD1 billion in the next 12 months”.
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Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
Monday, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
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- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Central Java Power - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
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