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Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
 The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 million stake in Bumi Resources, Indonesia’s largest coal producer.
Bakrie financial director Eddy Soeparno said Glencore had bought the stock since June. “We have an option to buy back the stake from Glencore within two years,” Soeparno said.
Based on Bumi’s average closing share price and the rupiah’s exchange rate, the deal may mean Glencore has about a 5 percent stake in Bumi.
Eddy said Glencore — a marketing agent for Bumi coal — saw Bumi shares appreciating.
Bumi director Dileep Srivastava confirmed on Wednesday that Glencore had been acquiring shares but would not say how many.
“Based on [Bumi’s] financial records released on June 30, no one company owns more than 5 percent of Bumi’s shares, except for Bakrie & Brothers, which owns 21 percent in several blocks,” he said.
Bakrie & Brothers is the holding company controlled by the family of Aburizal Bakrie, a business tycoon and politician.
Privately held Glencore has become a global marketing agent outside Japan for Kaltim Prima Coal, Bumi’s main coal mining unit.
Glencore supplies metals, minerals, oil products, coal and agricultural products to companies in more than 40 countries. Its sales turnover for the 2009 fiscal year was $106.4 billion, and its assets were $66.3 billion at the end of 2009.
Glencore spokesman Carlos Perezagua declined to comment.
A source at Bakrie & Brothers said the investment holding firm did not have enough cash to increase its stake in Bumi but also saw a potential upside for the miner’s shares.
Bumi stock has tumbled 29 percent this year, underperforming the Jakarta Composite Index’s 27 percent rise, because of concerns about corporate governance and high debt. Its forward PE ratio is 6.15, versus 10.36 for rival Adaro Energy.
Source: The Jakarta Globe
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Saturday, 18 September 10
ECI / CHINA FREIGHT ROUTE DOWN BY 1.22 PCT OR US$ 225 PER DAY AND CLOSED AT US$ 18,123 PER DAY - VISTAAR
COALspot.com: The BDI was under pressure this week and was almost down by 11 pct and closed at 2676 points.
The Cape and Panamax index was almost ...
Friday, 17 September 10
CWP COAL WASHING PLANTS MACHINERY LANDS ON RUSSIAN MARKET!!
Press Release: CWP Coal Washing Plants Machinery Industry & Trade Co. which was founded in 1990, has been operating in Izmir with its closed pro ...
Friday, 17 September 10
FREIGHT RATES TO DECLINE FURTHER - ICICI SEC
Broking firm ICICI Securities said tanker freight rates reported a sharp drop with rates of Suezmax and Aframax carriers declining by 16% to USD 8,6 ...
Friday, 17 September 10
R-POWER, ADANI, GMR TO BID FOR $1-BN MINE
Reliance Power, Adani Power and GMR are in the race for a coal mine asset in Australia. The valuation of the asset is close to $1 billion (Rs 4,600 ...
Thursday, 16 September 10
RPG GROUP BUYS 10% IN AUSSIE COAL FIRM RESOURCE GENERATION
Dealcurry reported that, India's RPG Group's Integrated Coal Mining Limited (ICML) has acquired 10% stake (18,268,053 shares) in Resource Generati ...
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- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
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