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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, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
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