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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, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Parliament of New Zealand
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- The University of Queensland
- GMR Energy Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
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