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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, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- The University of Queensland
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Planning Commission, India
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
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