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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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Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Aditya Birla Group - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Australian Coal Association
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
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