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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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Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- The University of Queensland
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
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