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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Central Electricity Authority - India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
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