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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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Wednesday, 02 February 11
HUGE TONNAGE OVERSUPPLY LOOMING FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market taking another dive yesterday, to just over 1,000 points (1,084), losing more than 2% on the day, it’s more than obvi ...
Monday, 31 January 11
S. SUMATRA COAL RAILWAY TO BE COMPLETED ON SCHEDULE - THE JAKARTA POST
The Jakarta Post reported that, despite land acquisition problems, state coal mining company PT Bukit Asam is upbeat that the development of a railw ...
Monday, 31 January 11
COAL MINER PTBA TO DRIVE OUTPUT WITH ACQUISITIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, State coal company Perusahaan Tambang Batubara Bukit Asam said its output would increase 34 percent to 17.6 million ...
Saturday, 29 January 11
PRESSURE ON SHIPPING MARKET MAY CONTINUE UNTIL MID FEBRUARY 2011
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1370 points.
In May 2010 the BDI touched 4,209 ...
Saturday, 29 January 11
ANTAM ACQUIRES SAROLANGUN COAL MINING
According to Insider Stories, Nickel and gold miner PT Aneka Tambang Tbk (Antam) of Indonesia via its subsidiary PT Indonesia Coal Resources (ICR) h ...
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- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Planning Commission, India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
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