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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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Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- VISA Power Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
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