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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, 09 October 09
INDIKA IN TALKS TO SELL 4M TONS OF COAL, EYEING BP ASSETS
The Jakarta Post reported that, Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its ...
Friday, 09 October 09
BULK-SHIPPING LINES MUST CANCEL 50% OF NEW ORDERS, PLATOU SAYS
Bloomberg reported that, Bulk-shipping lines need to cancel half of the new vessels they have on order to ease a capacity glut and revive freight ra ...
Friday, 09 October 09
THE BALTIC DRY INDEX WOKE UP: DRY BULK MARKET ON THE RISE
Hellenic Shipping News reported that, In what could prove the beginning of a new and sustainable rally for the dry bulk market, the BDI (Baltic Dry ...
Friday, 09 October 09
STRAITS ASIA INDONESIAN MINE COAL LOADER COLLAPSES
* New coal loading facility collapsed due to heavy rain
* Older coal loading facility seem unaffected so far
* UBS may cut valuation if disruption ...
Thursday, 08 October 09
COAL INDIA SAYS IMPORTS COULD JUMP 10 TIMES IN 3 YRS
Reuters reported that, Coal imports by state explorer Coal India Ltd could jump 10 times to 40-45 million tonnes in three years to meet a sharp rise ...
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- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Billiton Holdings Pty Ltd - Australia
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- GAC Shipping (India) Pvt Ltd
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- Planning Commission, India
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- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
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- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
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- PTC India Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
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- The State Trading Corporation of India Ltd
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- Bhoruka Overseas - Indonesia
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- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
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- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
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- Mintek Dendrill Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
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- Merrill Lynch Commodities Europe
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- Semirara Mining Corp, Philippines
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- Tamil Nadu electricity Board
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Central Java Power - Indonesia
- Parliament of New Zealand
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- Samtan Co., Ltd - South Korea
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- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
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- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
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- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
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- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
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- Romanian Commodities Exchange
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- South Luzon Thermal Energy Corporation
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- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
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- The University of Queensland
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
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