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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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- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
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