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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 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 ...
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- Siam City Cement - Thailand
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- 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
- 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
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- 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
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- 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
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- 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
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- 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
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
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