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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, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Parliament of New Zealand
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Planning Commission, India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- PTC India Limited - India
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