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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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Thursday, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
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- Chamber of Mines of South Africa
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
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- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
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- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
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- Siam City Cement - Thailand
- Australian Coal Association
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
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- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
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- Energy Development Corp, Philippines
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- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Parliament of New Zealand
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Merrill Lynch Commodities Europe
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- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- The University of Queensland
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
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