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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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Thursday, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
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