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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, 06 February 10
COAL MINISTRY SEEKS CUT IN IMPORT DUTY
The coal ministry wants the finance ministry to reduce the 5.1% import duty on thermal coal and continue with the existing zero import duty on cokin ...
Friday, 05 February 10
IN 2010, CHINA COAL OUTPUT TO REACH AROUND 3.3BLN T
It is expected that China's coal production in 2010 will reach around 3.3bln tons. It is predicted that in the first quarter of 2010, the tight coa ...
Thursday, 04 February 10
INDIA REMAINS FIRM - FEARNRESEARCH
CHARTERING - DRY BULK
Handy
The BSI has continued it´s downward movement for 2 weeks now.Nevertheless activity in the atlantic remains bu ...
Thursday, 04 February 10
INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT & INFRASTRUCTURE ASIA 2010
IPFA TO JOIN INF ...
Thursday, 04 February 10
INDIA`S APPETITE FOR COAL EXPECTED TO RISE SHARPLY
Coal powers more than half of India's electricity plants and demand for the commodity is expected to rise sharply as the third-largest Asian econom ...
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- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
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- Sindya Power Generating Company Private Ltd
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- The University of Queensland
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- London Commodity Brokers - England
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- Global Business Power Corporation, Philippines
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- SMG Consultants - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Economic Council, Georgia
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- Chamber of Mines of South Africa
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- Singapore Mercantile Exchange
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- Samtan Co., Ltd - South Korea
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- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
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- Independent Power Producers Association of India
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- San Jose City I Power Corp, Philippines
- Planning Commission, India
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- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
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- Australian Coal Association
- Eastern Coal Council - USA
- CNBM International Corporation - China
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- Metalloyd Limited - United Kingdom
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- Aditya Birla Group - India
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- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
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- Trasteel International SA, Italy
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- Minerals Council of Australia
- Kumho Petrochemical, South Korea
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- Thai Mozambique Logistica
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- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
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- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
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