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Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in shareholders approving all agendas proposed in both the AGM and the subsequent Extraordinary General Meeting (EGM) including the execution of non-preemptive issue, collateralization of the company’s assets, as well as strengthening of the company’s management according to statement issued by Bumi's Director cum Corporate Secretary, Dileep Srivastava.
BUMI is Asia's fastest & the World's 2nd fastest growing coal company operating multi mines in Indonesia.
A dividend amounting $57.1million was declared amounting to 30% of 2009 net income.
“We are thankful to the shareholders for approving the management’s proposal that will provide the company with strong base to realize stronger operational and financial performance with reduced debts in the coming year,” said BUMI President Director Ari Hudaya.
With the approved agenda, BUMI will implement its first step of the $1 billion deleveraging program announced last year- beginning with the significant reduction in debt from the non-preemptive issue. With a significant debt reduction, the company aims to boost financial performance through higher coal prices, sales, production, stronger internal cash flows and lower interest charges.
The statement further said that, Bumi is on track to achieving sales of +64 m tons (vs 58 m tons in FY'09), production + 67 m tons (vs 63 m tons in FY09) at an average fob price of minimum $67/ton. (vs $63/ton in FY09) with an exponential rise in EBITDA.(cs)
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Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- The University of Queensland
- Bhushan Steel Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
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- Eastern Energy - Thailand
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- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
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- Jindal Steel & Power Ltd - India
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
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- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
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- Global Green Power PLC Corporation, Philippines
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- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
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- Petron Corporation, Philippines
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- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
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- Ministry of Transport, Egypt
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- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
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- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
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- Cigading International Bulk Terminal - Indonesia
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- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
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- VISA Power Limited - India
- Parliament of New Zealand
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- Indian Energy Exchange, India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
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- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
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- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
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- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
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- Alfred C Toepfer International GmbH - Germany
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- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
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- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
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