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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, 13 January 10
ADHUNIK GROUP TO BUY 50 PCT IN AUSTRALIA MINE
The Adhunik group of Industries is in talks to acquire 50 percent in an Australian coking coal mine for $100 million, the Economic Times reported on ...
Wednesday, 13 January 10
COAL MARKETS 2010 CONFERENCE - SINGAPORE, 28 - 29 JANUARY 2010
COALspot.com (Press Release): As an established annual event that has been running for more than 7 years now with extensive industry support from ke ...
Wednesday, 13 January 10
IRON ORE PRICE TIPPED TO RISE 40PC, SAYS ANZ
THE price battle in the controversial iron ore negotiations is expected to intensify.
ANZ senior commodities analyst Mark Pervan has increased h ...
Wednesday, 13 January 10
KANGAROO RESOURCES KICKS OFF INDONESIAN COAL PRODUCTION
Coal-focused company Kangaroo Resources has formally joined the ranks of international coal operators after wrapping up the delivery and sale o ...
Wednesday, 13 January 10
CONSOL SELLS FIRST COAL TO CHINA
Coal and natural gas company CONSOL Energy Inc.made its first sale of high-volume coking coal to Asia from its Bailey Mine in Northern Appalachia. T ...
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- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
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- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
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- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
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- Price Waterhouse Coopers - Russia
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- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
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- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
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- Merrill Lynch Commodities Europe
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- Directorate General of MIneral and Coal - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
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- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
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- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
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- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
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- Sical Logistics Limited - India
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