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Thursday, 03 July 14
BUMI TRANSFERS 19% OF KPC STAKE VALUED AT US$ 950 MILLION TO CIC
COALspot.com: PT. Bumi Resources announces that 19% of its holdings in Kaltim Prima Coal (KPC), valued at US$ 950 million, has been transferred to China Investment Corporation (CIC) as part of the debt settlement agreement announced on October 9, 2013.
According to BUMI's press release, a sum of US$ 1.989 billion is due to CIC as loan principal, deferred interest and make-whole costs. With this transfer of KPC stakes, the amount payable to CIC stands reduced to US$ 1.039 billion.
BUMI's press note further said that, 42% of BUMI's holding in PT. Bumi Resources Minerals Tbk., ( valued at US$ 257 million) and US$ 150 Million BUMI equity are expenses to be transferred to CIC by September 2014, following the closure of the BUMI rights offering approved on June 30, 2014.
Consequentially, the residual loan to CIC would reduce further to US$ 632 million, at an interest rate of LIBOR+6.7% per annum. No interest or principal is payable in the first 12 months, principal is payable semi annually over the next 2 years, whilst interest is paid monthly from the 13th month onwards.
Mr. Ari Hudaya, President Director, said, "This is a first major step in restoring financial health and a proof of company commitment to reduce debt. We welcome CIC as our equity partner and look forward to grow our assets from strength to strength. Fundamentally, the company is strong, has build annual coal capacity exceeding 90 million tons and significantly raised all round efficiencies in operations and costs"
He added, "We are confident our revised capital structure coupled with the recovery of coal prices would enable us regain health and return to company back to profit."
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Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
Friday, 04 July 14
PARAM MITRA COAL RESOURCES SECURES US$ 7.5M INVESTMENT FROM TEMBUSU PARTNERS
Param Mitra Coal Resources Pte Ltd (“PMCR”), which owns two operating coal mines in Indonesia, has secured from Singapore private equit ...
Thursday, 03 July 14
PANAMAX : IN THE ATLANTIC, OWNERS ARE WILLING TO FIX AT ABOUT $2.5K PER DAY - FEARNEYS
Handy
In its latest weekly report, shipbroker Fearneys noted that, this week seems to have been more of a wait and see game between owners and ch ...
Wednesday, 02 July 14
NEWMONT FILES FOR INTERNATIONAL ARBITRATION ON ORE EXPORT BAN - THE JAKARTA POST
PT Newmont Nusa Tenggara (NNT), a subsidiary of United States-based Newmont Corporation, has filed for international arbitration against the govern ...
Wednesday, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
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- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- The University of Queensland
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Petron Corporation, Philippines
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