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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$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...
Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...
Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...
Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...
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- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Aditya Birla Group - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- White Energy Company Limited
- Australian Coal Association
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
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