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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, 27 November 09
EXXARO SEES HIGH COAL DEMAND RAISING PRICES
Reuters reported that, South African diversified miner Exxaro Resources said on Thursday it expected coal prices to rise to between $70 and $75 per ...
Friday, 27 November 09
CENTENNIAL SAYS ENERGY-COAL PRICE TO RISE AS CHINA SEEKS FUEL
Bloomberg reported that, Centennial Coal Co., an Australian producer of the fuel, said contract prices are expected to rise in 2010, with Chinese co ...
Friday, 27 November 09
IN FIRST-10-MONTH OF 2009 COAL IMPORTS IN GUANGXI-FANGCHENG EXCEEDED FULL-2008 IMPORTS
According to Customs statistics, during the January-October, Fangcheng port accumulatively imported 3.676mln tons valuing U.S.$370, rising by 53.8% ...
Thursday, 26 November 09
CHINA'S COAL IMPORTS TO RISE BY 170 PERCENT IN 2009
According to the statistics released by China's General Administration of Customs on November 23, China's coal imports for October totaled 11.1 mi ...
Thursday, 26 November 09
CIL EYES OVERSEAS ACQUISITIONS TO BRIDGE SUPPLY GAP
Coal Minister Sriprakash Jaiswal on Wednesday said that state-run coal major Coal India is looking to acquire coal blocks in the US and
othe ...
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- PTC India Limited - India
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- Africa Commodities Group - South Africa
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- Jaiprakash Power Ventures ltd
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- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
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- Straits Asia Resources Limited - Singapore
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- Price Waterhouse Coopers - Russia
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- Thiess Contractors Indonesia
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- Energy Link Ltd, New Zealand
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- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Eastern Energy - Thailand
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- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
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- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
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- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
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- Karbindo Abesyapradhi - Indoneisa
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- The Treasury - Australian Government
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- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
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- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
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- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
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- White Energy Company Limited
- Anglo American - United Kingdom
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
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- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
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- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
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- India Bulls Power Limited - India
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- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
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- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
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- Wilmar Investment Holdings
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- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
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