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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$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Friday, 22 January 10
ENERGY ADVISORY COUNCIL MULLS - COAL EXPORT BAN
The National Energy Council, which advises the House of Representatives and the president on energy issues, has begun to debate a proposal to ban ex ...
Friday, 22 January 10
MERCATOR EYES MORE COAL MINES IN INDONESIA
India’s second-largest private shipping company Mercator Lines is looking at acquiring more coal mines in Indonesia as part of its strategy&nb ...
Friday, 22 January 10
BHAKTI ENERGI IN TALKS OVER COAL VENTURES IN KALIMANTAN
PT Bhakti Energi Persada, one of Indonesia’s biggest miners of brown coal, revealed on Thursday that it was in talks to form a joint venture w ...
Friday, 22 January 10
SHENHUA ENERGY 09 YIELDED 210MN TONS COMMODITY COAL
China Shenhua Energy Co., Ltd. yielded 210 million tons of commodity coal in 2009, hiking 13.2% year on year, the Chinese energy titan announced tod ...
Friday, 22 January 10
JSW ENERGY TO INVEST RS 4,500 CRORE IN COAL MINES ABROAD
The Sajjan Jindal-promoted JSW Energy is planning an investment of Rs 4,500 crore (US$ 978,260,869) to acquire coal mines abroad and another of Rs 1 ...
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- Semirara Mining and Power Corporation, Philippines
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- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
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- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
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- Tata Chemicals Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
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- Lanco Infratech Ltd - India
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- Gujarat Mineral Development Corp Ltd - India
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- Ministry of Finance - Indonesia
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- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
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- Coal and Oil Company - UAE
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- Mintek Dendrill Indonesia
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- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
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- Parliament of New Zealand
- Standard Chartered Bank - UAE
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- Romanian Commodities Exchange
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- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
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- White Energy Company Limited
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- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
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- Chamber of Mines of South Africa
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- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
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- Planning Commission, India
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- SMG Consultants - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
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- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
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- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
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- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
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- PowerSource Philippines DevCo
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Australian Coal Association
- Power Finance Corporation Ltd., India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Interocean Group of Companies - India
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- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
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- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
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- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
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- Merrill Lynch Commodities Europe
- Economic Council, Georgia
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- Georgia Ports Authority, United States
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