COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1. ...


Sunday, 12 June 11
THE FREIGHT MARKET IS LIKELY TO BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - The freight market continued to soften this week except for Panamax index. The BDI was down by about 4.77 pct and closed at 1,418 poi ...


Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...


Friday, 10 June 11
BUKIT ASAM RECORDED RP1.3 TRILLION PROFIT IN MAY - TEMPO INTERACTIVE
Tempo Interactive reported that, PT PT Tambang Batubara Bukit Asam Tbk (PTBA) made a net profit of Rp 1.3 trillion (approx. US$ 152,779,410) at the ...


Friday, 10 June 11
DRY BULK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
This week has offered dry bulk ship owners no real reason to smile, as the industry’s benchmarket, the Baltic Dry Index (BDI) has been steadil ...


   1045 1046 1047 1048 1049   
Showing 5231 to 5235 news of total 6871
News by Category
Popular News
 
Total Members : 28,623
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • PetroVietnam
  • Inco-Indonesia
  • Tanito Harum - Indonesia
  • SASOL - South Africa
  • BNP Paribas - Singapore
  • Siam City Cement - Thailand
  • White Energy Company Limited
  • Arutmin Indonesia
  • ACC Limited - India
  • CIMB Investment Bank - Malaysia
  • Kepco SPC Power Corporation, Philippines
  • PTC India Limited - India
  • Asia Cement - Taiwan
  • Singapore Mercantile Exchange
  • Maybank - Singapore
  • Kaltim Prima Coal - Indonesia
  • The University of Queensland
  • Krishnapatnam Port Company Ltd. - India
  • VISA Power Limited - India
  • Idemitsu - Japan
  • Maruti Cements - India
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Cigading International Bulk Terminal - Indonesia
  • J M Baxi & Co - India
  • Lanco Infratech Ltd - India
  • Noble Europe Ltd - UK
  • Binh Thuan Hamico - Vietnam
  • IMC Shipping - Singapore
  • Humpuss - Indonesia
  • Africa Commodities Group - South Africa
  • Gupta Coal India Ltd
  • NALCO India
  • globalCOAL - UK
  • ICICI Bank Limited - India
  • Panama Canal Authority
  • Mintek Dendrill Indonesia
  • PowerSource Philippines DevCo
  • Essar Steel Hazira Ltd - India
  • Eastern Coal Council - USA
  • DBS Bank - Singapore
  • GVK Power & Infra Limited - India
  • Sical Logistics Limited - India
  • Economic Council, Georgia
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Minerals Council of Australia
  • Madhucon Powers Ltd - India
  • Gresik Semen - Indonesia
  • Bahari Cakrawala Sebuku - Indonesia
  • Sinarmas Energy and Mining - Indonesia
  • London Commodity Brokers - England
  • Rio Tinto Coal - Australia
  • European Bulk Services B.V. - Netherlands
  • Sojitz Corporation - Japan
  • Therma Luzon, Inc, Philippines
  • Riau Bara Harum - Indonesia
  • ASAPP Information Group - India
  • Jindal Steel & Power Ltd - India
  • Bharathi Cement Corporation - India
  • Cosco
  • Global Business Power Corporation, Philippines
  • Port Waratah Coal Services - Australia
  • Merrill Lynch Commodities Europe
  • Vedanta Resources Plc - India
  • Thriveni
  • TNPL - India
  • JPMorgan - India
  • Britmindo - Indonesia
  • Romanian Commodities Exchange
  • SRK Consulting
  • Coal Orbis AG
  • Cargill India Pvt Ltd
  • McKinsey & Co - India
  • Coaltrans Conferences
  • GHCL Limited - India
  • Renaissance Capital - South Africa
  • Mitsubishi Corporation
  • Coeclerici Indonesia
  • Vijayanagar Sugar Pvt Ltd - India
  • Antam Resourcindo - Indonesia
  • Mercator Lines Limited - India
  • Kideco Jaya Agung - Indonesia
  • Moodys - Singapore
  • GAC Shipping (India) Pvt Ltd
  • UOB Asia (HK) Ltd
  • Ambuja Cements Ltd - India
  • APGENCO India
  • Globalindo Alam Lestari - Indonesia
  • Indogreen Group - Indonesia
  • McConnell Dowell - Australia
  • Electricity Authority, New Zealand
  • Mechel - Russia
  • Rudhra Energy - India
  • Toyota Tsusho Corporation, Japan
  • Infraline Energy - India
  • ING Bank NV - Singapore
  • Heidelberg Cement - Germany
  • Kartika Selabumi Mining - Indonesia
  • Lafarge - France
  • Bank of America
  • Chamber of Mines of South Africa
  • Holcim Trading Pte Ltd - Singapore
  • Reliance Power - India
  • Edison Trading Spa - Italy
  • Meenaskhi Energy Private Limited - India
  • International Coal Ventures Pvt Ltd - India
  • Semirara Mining and Power Corporation, Philippines
  • Makarim & Taira - Indonesia
  • Semirara Mining Corp, Philippines
  • Posco Energy - South Korea
  • Kalimantan Lumbung Energi - Indonesia
  • Goldman Sachs - Singapore
  • Independent Power Producers Association of India
  • Maheswari Brothers Coal Limited - India
  • Price Waterhouse Coopers - Russia
  • Power Finance Corporation Ltd., India
  • Permata Bank - Indonesia
  • NTPC Limited - India
  • Sakthi Sugars Limited - India
  • GN Power Mariveles Coal Plant, Philippines
  • TNB Fuel Sdn Bhd - Malaysia
  • Glencore India Pvt. Ltd
  • Wood Mackenzie - Singapore
  • Australian Commodity Traders Exchange
  • SN Aboitiz Power Inc, Philippines
  • Qatrana Cement - Jordan
  • Mjunction Services Limited - India
  • Kapuas Tunggal Persada - Indonesia
  • New Zealand Coal & Carbon
  • Shree Cement - India
  • RBS Sempra - UK
  • OCBC - Singapore
  • Thiess Contractors Indonesia
  • GNFC Limited - India
  • CESC Limited - India
  • Electricity Generating Authority of Thailand
  • World Bank
  • Manunggal Multi Energi - Indonesia
  • Parry Sugars Refinery, India
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Gujarat Mineral Development Corp Ltd - India
  • Meralco Power Generation, Philippines
  • Asian Development Bank
  • Russian Coal LLC
  • Dalmia Cement Bharat India
  • Jorong Barutama Greston.PT - Indonesia
  • Jatenergy - Australia
  • Barclays Capital - USA
  • Billiton Holdings Pty Ltd - Australia
  • TRAFIGURA, South Korea
  • Straits Asia Resources Limited - Singapore
  • GB Group - China
  • Deloitte Consulting - India
  • Formosa Plastics Group - Taiwan
  • Bhatia International Limited - India
  • Fearnleys - India
  • Samtan Co., Ltd - South Korea
  • Directorate General of MIneral and Coal - Indonesia
  • Global Coal Blending Company Limited - Australia
  • Chettinad Cement Corporation Ltd - India
  • KPCL - India
  • PLN - Indonesia
  • Tata Chemicals Ltd - India
  • Pinang Coal Indonesia
  • Central Java Power - Indonesia
  • Wilmar Investment Holdings
  • Parliament of New Zealand
  • Carbofer General Trading SA - India
  • Gujarat Sidhee Cement - India
  • Anglo American - United Kingdom
  • PLN Batubara - Indonesia
  • Simpson Spence & Young - Indonesia
  • Grasim Industreis Ltd - India
  • TeaM Sual Corporation - Philippines
  • Indo Tambangraya Megah - Indonesia
  • The India Cements Ltd
  • Surastha Cement
  • Bukit Makmur.PT - Indonesia
  • PetroVietnam Power Coal Import and Supply Company
  • Star Paper Mills Limited - India
  • IBC Asia (S) Pte Ltd
  • Japan Coal Energy Center
  • BRS Brokers - Singapore
  • Timah Investasi Mineral - Indoneisa
  • Energy Link Ltd, New Zealand
  • Malabar Cements Ltd - India
  • Shenhua Group - China
  • PNOC Exploration Corporation - Philippines
  • Agrawal Coal Company - India
  • Attock Cement Pakistan Limited
  • KEPCO - South Korea
  • Neyveli Lignite Corporation Ltd, - India
  • Tata Power - India
  • Pipit Mutiara Jaya. PT, Indonesia
  • Argus Media - Singapore
  • World Coal - UK
  • Videocon Industries ltd - India
  • Borneo Indobara - Indonesia
  • Karaikal Port Pvt Ltd - India
  • Aboitiz Power Corporation - Philippines
  • Eastern Energy - Thailand
  • Cardiff University - UK
  • Indonesian Coal Mining Association
  • Kobexindo Tractors - Indoneisa
  • JPower - Japan
  • SUEK AG - Indonesia
  • Bhushan Steel Limited - India
  • Adani Power Ltd - India
  • Sucofindo - Indonesia
  • Savvy Resources Ltd - HongKong
  • Platts
  • TGV SRAAC LIMITED, India
  • Mitra SK Pvt Ltd - India
  • Bhoruka Overseas - Indonesia
  • Indika Energy - Indonesia
  • Jaiprakash Power Ventures ltd
  • Intertek Mineral Services - Indonesia
  • Bank of China, Malaysia
  • ANZ Bank - Australia
  • Karbindo Abesyapradhi - Indoneisa
  • Coal India Limited
  • Arch Coal - USA
  • Malco - India
  • Bayan Resources Tbk. - Indonesia
  • Sindya Power Generating Company Private Ltd
  • Core Mineral Indonesia
  • Larsen & Toubro Limited - India
  • TANGEDCO India
  • Interocean Group of Companies - India
  • Platou - Singapore
  • Rashtriya Ispat Nigam Limited - India
  • Cemex - Philippines
  • ETA - Dubai
  • Banpu Public Company Limited - Thailand
  • Kumho Petrochemical, South Korea
  • Thailand Anthracite
  • Sree Jayajothi Cements Limited - India
  • Bukit Baiduri Energy - Indonesia
  • CoalTek, United States
  • Leighton Contractors Pty Ltd - Australia
  • Vitol - Bahrain
  • Indian Energy Exchange, India
  • Bangkok Bank PCL
  • Orica Australia Pty. Ltd.
  • The Treasury - Australian Government
  • Ministry of Transport, Egypt
  • Deutsche Bank - India
  • Bulk Trading Sa - Switzerland
  • Global Green Power PLC Corporation, Philippines
  • KPMG - USA
  • Thai Mozambique Logistica
  • Samsung - South Korea
  • LBH Netherlands Bv - Netherlands
  • AsiaOL BioFuels Corp., Philippines
  • Barasentosa Lestari - Indonesia
  • IEA Clean Coal Centre - UK
  • Ceylon Electricity Board - Sri Lanka
  • Xindia Steels Limited - India
  • Coastal Gujarat Power Limited - India
  • Latin American Coal - Colombia
  • Indonesia Power. PT
  • Asmin Koalindo Tuhup - Indonesia
  • Sarangani Energy Corporation, Philippines
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Runge Indonesia
  • Metalloyd Limited - United Kingdom
  • Altura Mining Limited, Indonesia
  • Vizag Seaport Private Limited - India
  • Maersk Broker
  • The State Trading Corporation of India Ltd
  • Indian Oil Corporation Limited
  • Bangladesh Power Developement Board
  • Geoservices-GeoAssay Lab
  • Ind-Barath Power Infra Limited - India
  • Kobe Steel Ltd - Japan
  • Iligan Light & Power Inc, Philippines
  • Oldendorff Carriers - Singapore
  • Uttam Galva Steels Limited - India
  • Berau Coal - Indonesia
  • Ministry of Mines - Canada
  • Indian School of Mines
  • Ernst & Young Pvt. Ltd.
  • Marubeni Corporation - India
  • CNBM International Corporation - China
  • OPG Power Generation Pvt Ltd - India
  • Xstrata Coal
  • Cement Manufacturers Association - India
  • Central Electricity Authority - India
  • EMO - The Netherlands
  • EIA - United States
  • GMR Energy Limited - India
  • Baramulti Group, Indonesia
  • Bukit Asam (Persero) Tbk - Indonesia
  • UBS Singapore
  • India Bulls Power Limited - India
  • KOWEPO - South Korea
  • Petron Corporation, Philippines
  • Coalindo Energy - Indonesia
  • South Luzon Thermal Energy Corporation
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Commonwealth Bank - Australia
  • Gujarat Electricity Regulatory Commission - India
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Vale Mozambique
  • Peabody Energy - USA
  • Planning Commission, India
  • Petrosea - Indonesia
  • Thomson Reuters GRC
  • Directorate Of Revenue Intelligence - India
  • Alfred C Toepfer International GmbH - Germany
  • MS Steel International - UAE
  • Kohat Cement Company Ltd. - Pakistan
  • WorleyParsons
  • Total Coal South Africa
  • Freeport Indonesia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • SGS (Thailand) Limited
  • bp singapore
  • San Jose City I Power Corp, Philippines
  • Inspectorate - India
  • Ince & co LLP
  • SMG Consultants - Indonesia
  • Georgia Ports Authority, United States
  • Maharashtra Electricity Regulatory Commission - India
  • Energy Development Corp, Philippines
  • Adaro Indonesia
  • Trasteel International SA, Italy
  • Mitsui
  • Indorama - Singapore
  • Miang Besar Coal Terminal - Indonesia
  • MEC Coal - Indonesia
  • Credit Suisse - India
  • Ministry of Finance - Indonesia
  • IOL Indonesia
  • Mercuria Energy - Indonesia
  • Siam City Cement PLC, Thailand
  • Petrochimia International Co. Ltd.- Taiwan
  • Australian Coal Association
  • Pendopo Energi Batubara - Indonesia
  • Cebu Energy, Philippines
  • Enel Italy
  • Tamil Nadu electricity Board
  • Aditya Birla Group - India
  • SMC Global Power, Philippines
  • HSBC - Hong Kong
  • Standard Chartered Bank - UAE
  • Salva Resources Pvt Ltd - India
  • Clarksons - UK
  • Orica Mining Services - Indonesia
  • Coal and Oil Company - UAE
  • IHS Mccloskey Coal Group - USA
  • Merrill Lynch Bank
  • CCIC - Indonesia
  • U S Energy Resources
  • Thermax Limited - India
  • Medco Energi Mining Internasional