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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, 18 August 10
MADHUCON TO START MINING AT SUMATRA BLOCK IN 2-3 MONTHS
DNA India reported that, Hyderabad-based Madhucon Projects is set to begin mining at one of its coal blocks in Indonesia in 2-3 months, said S Vaiku ...
Tuesday, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
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- Bulk Trading Sa - Switzerland
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- Sical Logistics Limited - India
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- Planning Commission, India
- Thiess Contractors Indonesia
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- Electricity Authority, New Zealand
- MS Steel International - UAE
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
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- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
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- Jaiprakash Power Ventures ltd
- The University of Queensland
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- Coalindo Energy - Indonesia
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- Rashtriya Ispat Nigam Limited - India
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- Agrawal Coal Company - India
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- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
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- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
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- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
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- Wood Mackenzie - Singapore
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- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
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- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
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- Medco Energi Mining Internasional
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- Romanian Commodities Exchange
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
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- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
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- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
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- Australian Coal Association
- Parliament of New Zealand
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- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Minerals Council of Australia
- Tamil Nadu electricity Board
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- Indian Energy Exchange, India
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