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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, 09 August 11
DRY BULK MARKET UNABLE TO FIND UPWARD MOMENTUM, SLUMPS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
They same that what goes up must come down and nobody seems to have found a better application of this expression, than the beleguered dry bulk mark ...
Monday, 08 August 11
OIL PRICES ARE SOFTENING, WILL IT INFLUENCE COAL PRICES?
COALspot.com - The current global economic condition is in volatility after a little chance of optimism for economic recovery.
Oil price at ...
Monday, 08 August 11
A SUPRAMAX VESSEL WAS REPORTED FIXED AT $ 12K - VISTAAR
COALspot.com - The BDI was slightly up by about 4 points closed at 1268 points which was supported by cape index which was up 3.14 pct and closed at ...
Saturday, 06 August 11
NTPC IS CONSIDERING TO ENTER INTO 25 YEARS COAL PURCHASE AGREEMENT
Indian, State-run power producer NTPC's present annual consumption is 164 million tonnes, and company is considering long-term agreements abroad to ...
Friday, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
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- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
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