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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
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- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
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