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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, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Carbofer General Trading SA - India
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- Mintek Dendrill Indonesia
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- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Merrill Lynch Commodities Europe
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- Renaissance Capital - South Africa
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- Electricity Generating Authority of Thailand
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- GVK Power & Infra Limited - India
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- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
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- Petron Corporation, Philippines
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- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
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- Parliament of New Zealand
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- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Central Electricity Authority - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
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- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
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- Bharathi Cement Corporation - India
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- India Bulls Power Limited - India
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- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
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- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
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- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
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- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
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- Coastal Gujarat Power Limited - India
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- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
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