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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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Tuesday, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Planning Commission, India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
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