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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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Monday, 27 December 10
RIO TINTO EYES AUSTRALIAN COAL MINER - RTE NEWS
Global resources giant Rio Tinto has made a $3.9 billion bid for Australian coal miner Riversdale.
RTE News reported that, Global resources giant ...
Sunday, 26 December 10
ANGLO SELLS AUSTRALIAN COAL ASSETS - BARCELONA NEWS
Barcelona News reported that, Anglo American has sold off undeveloped Australia coal assets for $577 million.
The global resources giant ha ...
Saturday, 25 December 10
FREIGHT MARKET - LOWEST FIXTURES REPORTED SINCE MID 2009 - CAPT. REDDY
COALspot.com - We wish you a Merry Christmas and a Happy New Year 2011.
The holiday season seems to have severely affected the fr ...
Friday, 24 December 10
CIL SHORTLISTS 21 FIRMS TO IMPORT 250 MT COAL - THE HINDU
The Hindu reported that, Coal India plans to import about 250 million tonnes (mt) over the next 10 years to meet the country's growing requirement. ...
Friday, 24 December 10
DRY BULK OWNERS COULD SOON RECONSIDER SCRAPPING OLDER VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market close to its lowest levels in months and indeed close to 2010 lows, ship owners could be heading towards scrapyards in a bi ...
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- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
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