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Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
 The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to deal with the future of its business there.
A source said the sale was a result of cabotage laws in Indonesia and the current trend where large coal mines were moving to take control of the logistics of shipping coal.
The buyer, said to be involved in the coal business, would become a strategic partner for Scomi Marine’s business in Indonesia.
“A big boy in the business is coming in,” said the source.
The marine logistics business of Scomi Marine primarily involves the transportation and provision of logistics support for major coal producers in Indonesia.
According to its annual report, the company carried almost 28 million tonnes of coal in 2009, 3% lower than in 2008 due to the slowdown in coal demand.
Scomi Marine yesterday halted trading in its stock on Bursa Malaysia until the close of trading on Tuesday.
The company said in a filing the suspension of trading was to facilitate a material corporate exercise involving a substantial transaction which would entail the disposal of certain subsidiaries of the company.
No further details were given. The stock closed up 2.5 sen yesterday at 43 sen after surging nearly 18% this week.
Scomi Marine has an 80.54% stake in PT Rig Tenders Indonesia Tbk, a company listed on the Jakarta Stock Exchange.
According to its website, Rig Tenders is involved in the chartering of tugs and barges to transport coal and other bulk aggregates as well as chartering of supply vessels, work-over and accommodation barges to support the offshore oil and gas industry.
Rig Tenders currently owns and operates a fleet of 53 vessels consisting of 10 supply vessels, 25 tug boats, two accommodation/work-over barges, nine flat-top barges and seven self-discharging barges. It has 491 personnel, including 437 contractual workers.
For its first quarter ended March 31, Scomi Marine’s net profit nearly doubled to RM21.9mil from RM11.1mil in the previous corresponding period.
Revenue was marginally lower at RM102.8mil compared with RM110.4mil previously.
In April, Scomi Marine completed the sale of a 29.07% stake in Singapore-listed CH Offshore Ltd for S$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Monday, 22 August 11
NTPC TO IMPORT 16 MILLION TON OF COAL TO BRIDGE THE GAP
COALspot.com - NTPC to import 16 million tons of imported coal, which is equivalent to 23-24 million tons of Indian coal to bridge the gap.
" ...
Monday, 22 August 11
MACRO ECONOMICS - PETER SAND BIMCO / HELLENIC SHIPPING
The US is jeopardising the global recovery as job creation remains top challenge across the board.
Global economy: While growth in most emerging ...
Sunday, 21 August 11
SUPRAMAX AVAILABILITY WAS TIGHT DUE TO UPCOMING RAMADAN HOLIDAYS
COALspot.com - The financial markets have been in turmoil with all major stock exchanges down and uncertainty prevails. However the shipping market ...
Sunday, 21 August 11
TUAH TURANGGA ACQUIRES DUTA NURCAHYA
Coal miner PT Tuah Turangga Agung, a wholly owned subsidiary of PT United Tractors Tbk (UNTR) via PT Pamapersada Nusantara), has agreed to acquire 6 ...
Friday, 19 August 11
INDIAS CICTL HAS ACHIEVED ONE MILLION TONS OF DISCHARGE
COALspot.com - Chettinad International Coal Terminal (CICTL) in Ennore port, a state of the art mechanized coal terminal, which was inaugurated on 28t ...
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- Energy Link Ltd, New Zealand
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- The Treasury - Australian Government
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- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
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- London Commodity Brokers - England
- Economic Council, Georgia
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- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
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- Ceylon Electricity Board - Sri Lanka
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- Bangladesh Power Developement Board
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- Chamber of Mines of South Africa
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- IHS Mccloskey Coal Group - USA
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- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
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- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
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- GMR Energy Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
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- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
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- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
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- Singapore Mercantile Exchange
- Australian Coal Association
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- Planning Commission, India
- Carbofer General Trading SA - India
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- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
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- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
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