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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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Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
Wednesday, 09 March 11
INDONESIA HAS SET THE MARCH 2011 INDONESIAN COAL REFERENCE PRICE FOR THERMAL COAL AT US$ 122.43 PER TON
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the March 2011 Indonesian Coal Reference Price for thermal c ...
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- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
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