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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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Monday, 14 December 09
SOUTH AFRICAN STEAM COAL PRICES FIRMING UP FOR Q1 TRADE
Reuters reported that Q1 South African coal prices firmed again slightly largely on Asian demand but European delivered prices were little changed.
...
Sunday, 13 December 09
THE FREIGHT MARKET SEEMS TO BE COMING OFF A BIT AND THE MARKET MAY BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com (Singapore): "The market softened this week especially in the Cape and Panamax segment , where as the Supramax and Handy size was ...
Sunday, 13 December 09
NAPOCOR CUTS COAL IMPORT PROJECTION FOR 2010
STATE-RUN National Power Corp. slashed its planned coal importation for 2010 to only 200,000 metric tons from 3.4 million MT this year, as the gover ...
Sunday, 13 December 09
CHINESE BUYERS SEEK LARGE TONNAGE OF SOUTH AFRICA STEAM COAL
Reuters reported that Chinese utilities on the coast and inland are seeking several cape cargoes each of South African coal for 2010 delivery becaus ...
Saturday, 12 December 09
QUEENSLAND APPROVES A$4 BILLION COAL TERMINAL PROJECT
Queensland’s state government said it has signed a mandate approving development of the A$4 billion ($3.7 billion) Wiggins Island coal termina ...
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- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
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- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
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- Mercator Lines Limited - India
- Romanian Commodities Exchange
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- Minerals Council of Australia
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- Deloitte Consulting - India
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- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
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- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
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- Indo Tambangraya Megah - Indonesia
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- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
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- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
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- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
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- PowerSource Philippines DevCo
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- Attock Cement Pakistan Limited
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- Eastern Energy - Thailand
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- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
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- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
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- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
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- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
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- Straits Asia Resources Limited - Singapore
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- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
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- Parliament of New Zealand
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- Heidelberg Cement - Germany
- Economic Council, Georgia
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- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
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