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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- European Bulk Services B.V. - Netherlands
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- The University of Queensland
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
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