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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbung Energy & Metal on Friday approved the management’s plan to purchase a 23.8 percent stake in London-listed Bumi for $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Tuesday, 01 November 11
DRY BULK MARKETS CORRECTION SPILLS OVER ONTO NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is losing steam, as evidenced by the falls experienced last week, which were also apparent at the beginning of the new week. A l ...
Monday, 31 October 11
CHINAS HUNGER FOR INDONESIAN COAL AT THREE YEAR-HIGH AS WINTER NEARS - JOSEPH KIRSCHKE
COALspot.com - Chinese demand for power-station coal from Indonesia has soared to its highest level in three years, as central heating plants and po ...
Saturday, 29 October 11
ATLAS RESOURCES SEALS US$95 MIO LOAN - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, has secured US$95 mill ...
Saturday, 29 October 11
INDONESIA TO INDIA FREIGHT LIKELY TO REMAIN SOFT
COALspot.com - The market continued to slow down and all segment were down this week.
The biggest drop was in the Cape Index down by 8.19 pct&nbs ...
Friday, 28 October 11
RISING COAL PRICES TO WORSEN CHINA'S WINTER POWER CRUNCH - CRI ENGLISH
CRI English reported that, the rising price of coal is fueling concerns about a power crunch set to plague China this winter, analysts said.
The ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Planning Commission, India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
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