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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, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Planning Commission, India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
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