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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$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
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- Baramulti Group, Indonesia
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- Economic Council, Georgia
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- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
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- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
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- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
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- Mintek Dendrill Indonesia
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- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
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- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
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- VISA Power Limited - India
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- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
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- Deloitte Consulting - India
- Xindia Steels Limited - India
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- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
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- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
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