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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$143.5mil, which saw the company make a gain of RM161.9mil.
Source: The Star online (By JAGDEV SINGH SIDHU )
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Friday, 20 November 09
INDONESIAN CO PLANS JV WITH NAGARJUNA
Economic Times reported that, Infrastructure firm Nagarjuna Constructions Company (NCC) is set to form a joint venture with an Indonesian coal minin ...
Thursday, 19 November 09
S. KOREA TO BUY COAL FROM CHINA FOR US$ 85-90/T IN 2010
Head of one S. Korea power company on November 18 unveiled that S. Korea’s power companies may purchase coal from China at the contract price ...
Thursday, 19 November 09
SNAPSHOT OF INDONESIA'S COAL INDUSTRY - FACT BOX BY REUTERS
Indonesian plans to cap coal exports to meet domestic demand will not hit global supplies in the near term, but could start to bite in three to five ...
Thursday, 19 November 09
INDONESIA COAL EXPORTS CURB WILL TAKE TIME TO BITE
Indonesia's plans to cap coal exports to satisfy demand at home are unlikely to crimp global supplies for as long as five years, when new power pla ...
Thursday, 19 November 09
THE GOVERNMENT TO GUARANTEE COAL SUPPLIES FOR POWER PLANTS
The government guarantees coal supplies for power plants under a 10,000 MW-capacity power plant construction acceleration program.
Minister of En ...
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- Bukit Makmur.PT - Indonesia
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- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
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- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
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- Tamil Nadu electricity Board
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- PTC India Limited - India
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- Global Coal Blending Company Limited - Australia
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- ASAPP Information Group - India
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- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
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- Rashtriya Ispat Nigam Limited - India
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- IHS Mccloskey Coal Group - USA
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- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
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- Standard Chartered Bank - UAE
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- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
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- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
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- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
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- Binh Thuan Hamico - Vietnam
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- Leighton Contractors Pty Ltd - Australia
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- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
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- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Economic Council, Georgia
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- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
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- TNB Fuel Sdn Bhd - Malaysia
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