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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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Thursday, 14 January 10
INDIANS RESUME S. AFRICA COAL BUYING AGAINST INDEX - REUTERS
Indian trade buyers have resumed buying of South African prompt coal cargoes after a two-month hiatus but are opting for index-linked pricing, hopin ...
Wednesday, 13 January 10
STEAMING COAL SUPPLY SPOT CONTRACT FOR TAEAN POWER PLANT
COALspot.com (South Korea): Korea Western Power Co., Ltd is looking for total 1.12 million tons of Bituminous Coal for TAEAN Power Plant.
Accord ...
Wednesday, 13 January 10
INDONESIA ISSUES COAL, METAL DECREE
Indonesia has issued a ministerial decree which requires metal and coal miners to set aside a certain amount of their production for domestic needs, ...
Wednesday, 13 January 10
RESTING TIME FOR INDONESIAN COAL LOADING VESSELS
COALspot.com (Indonesia): 11 - 15 vessels are waiting in anchorages of Muara Berau and Tanjung Pemancingan to load total about 700,000 – ...
Wednesday, 13 January 10
SOUTH AFRICA STEAM COAL PRICE FALLS SHARPLY
Reuters reported that South African physical coal prices fell sharply on Tuesday with a March cargo trade at USD 87.5 a tonne FOB Richards Bay and d ...
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- PTC India Limited - India
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- Merrill Lynch Commodities Europe
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- CNBM International Corporation - China
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- Australian Coal Association
- Baramulti Group, Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- The University of Queensland
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- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
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- Eastern Energy - Thailand
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- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
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- Ministry of Transport, Egypt
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- Parliament of New Zealand
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- Vizag Seaport Private Limited - India
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- Chamber of Mines of South Africa
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- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
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- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
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- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
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- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
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- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
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- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
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- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
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- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
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- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
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- Lanco Infratech Ltd - India
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- Directorate Of Revenue Intelligence - India
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- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
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- Iligan Light & Power Inc, Philippines
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- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
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