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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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Wednesday, 15 September 10
VIETNAM TO IMPORT UP TO 15 MLN TONS COAL/YR BY 2015 - VIETNAM BUSINESS
Vietnam Business reported that, Vietnam will need to import 3 million to 15 million tons of coal a year by 2015, rising to 21 million to 40 million ...
Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Economic Council, Georgia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
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