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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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Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
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