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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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Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
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- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
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