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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, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
Monday, 20 September 10
MMTC SEEKS TO BUY 1.3 MT OF COAL FOR INDIA UTILITIES - SXCOAL
MMTC Ltd., India’s largest state- owned trading company, is seeking bids for the supply of 1.3 million tonnes of coal to feed power plants run ...
Monday, 20 September 10
KANGAROO RESOURCES SIGNS PARTNERSHIP WITH ASEAMCO FOR INDONESIAN COAL ASSETS - PROACTIVE INVESTORS
International coal producer Kangaroo Resources (ASX: KRL) has completed a new three-year agreement with Australian mining consultants ASEAMCO to del ...
Monday, 20 September 10
ICVL LOOKS FOR COAL ASSETS IN UZBEK, INDONESIA, AUSTRALIA - ECONOMIC TIMES
Economic Times reported that, International Coal Ventures, or ICVL, the special purpose vehicle floated by five state-owned firms to scout for coal ...
Monday, 20 September 10
IRON-ORE SHIPPING DEMAND MAY GAIN ONCE CHINA STEEL CUTS FINISH, SSY SAYS
Demand to transport iron ore may rebound once China ends steel-production cuts and steel prices may gain in the next several months because of the r ...
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- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
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- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
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- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
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- Electricity Authority, New Zealand
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- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
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- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Planning Commission, India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- White Energy Company Limited
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
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- Gujarat Mineral Development Corp Ltd - India
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- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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