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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$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
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- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
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- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
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- Merrill Lynch Commodities Europe
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- White Energy Company Limited
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- Power Finance Corporation Ltd., India
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- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
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- Global Business Power Corporation, Philippines
- Economic Council, Georgia
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- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
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- Bangladesh Power Developement Board
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- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
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- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
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- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- The University of Queensland
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
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- Kepco SPC Power Corporation, Philippines
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- Independent Power Producers Association of India
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- Parliament of New Zealand
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- Therma Luzon, Inc, Philippines
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- Oldendorff Carriers - Singapore
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- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
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- Binh Thuan Hamico - Vietnam
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- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
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- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
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- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
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- Gujarat Sidhee Cement - India
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- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
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- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
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- San Jose City I Power Corp, Philippines
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- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
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- Mintek Dendrill Indonesia
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- IHS Mccloskey Coal Group - USA
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- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
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- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
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