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Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
 The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public offering planned next month to as much as $250 million, less than half the original price, due to market volatility.
The Jakarta-based company plans to sell 882.35 million shares, or a 15 percent stake, at a price range of Rp 2,300 to Rp 3,500 each. Golden Energy initially planned to sell 1.2 billion shares, or 20 percent of total shares, to raise $550 million.
The company is a unit of energy and infrastructure firm Dian Swastatika Sentosa, which will own 85 percent of Golden Energy after the initial public offering.
“Considering the volatile global market, we decided to adjust,” said Kokarjadi Chandra, president director of Sinarmas Sekuritas, the sole underwriter. He said a 15 percent share sale can generate the money Golden Energy needs for its capital expenditure.
The company will use most of the proceeds for infrastructure, working capital and an expansion of its subsidiary. Ten percent of the proceeds — or about $25 million — will go to pay off debt, valued at about $40 million and mostly owed to Dian Swastatika Sentosa, said Golden Energy president director L. Krisnan Cahya.
The bookbuilding is scheduled from Oct. 21-24, and Golden Energy will be listed on the Indonesia Stock Exchange on Nov. 11.
Golden Energy is targeting 6 million tons in coal production this year, three times higher than last year. Krisnan said production had reached 4 million tons as of September. The company expects to produce 10 million tons by 2012 and 14 million tons by 2013.
Golden Energy moved closer to its goal by opening a new pit in Kalimantan that has about 200 million tons in reserves and will produce 2.5 millions tons this year, company director Yudha Wibawa said. A new port with an annual capacity of 40 million tons, will also help with shipments.
The company expects to set aside Rp 1.36 trillion in capital expenditure up to 2016. It set Rp 501.99 billion in capital expenditure for this year, and Krisnan said it had spent about $30 million as of September. It forecasts reaching Rp 3.41 trillion in revenue this year, up from Rp 927 billion in 2010, and to make Rp 507 billion in profit, up from Rp 34 billion.
It does not plan to acquire more coal mines in the near future.
“We will focus on maximizing production in our current mines because we have quite a large reserve today,” said Krisnan, adding that the company has 849 million tons of thermal coal reserves.
Golden Energy sells most of its production to power companies and cement producers in Indonesia and abroad.
This year, the mining sector has lost 22 percent on the Indonesian Stock Exchange (IDX).
Source: The Jakarta Globe (By: Francezka Nangoy)
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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- The University of Queensland
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
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