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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, 11 August 10
CAPESIZE MARKET ON RECOVERY MODE
The dry bulk market, usually dormant in August, has returned on a high note this week, after last week’s gains. Monday proved to be rather buo ...
Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
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- CIMB Investment Bank - Malaysia
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- Malabar Cements Ltd - India
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- Bangladesh Power Developement Board
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- The University of Queensland
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- Interocean Group of Companies - India
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- SMG Consultants - Indonesia
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- Samtan Co., Ltd - South Korea
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- Medco Energi Mining Internasional
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- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
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- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
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- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
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- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
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- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Ministry of Mines - Canada
- MS Steel International - UAE
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
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- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
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- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
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- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
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- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
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- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
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