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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- The University of Queensland
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
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