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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, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
Monday, 13 December 10
ICE FUTURES EUROPE TO LAUNCH IHS MCCLOSKEY INDONESIAN SUB-BITUMINOUS FOB MARKER COAL CONTRACTS - MONDOVISIONE
Mondovisione reported that, IntercontinentalExchange (NYSE: ICE), a leading operator of global regulated futures exchanges, clearing houses and over ...
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- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Australian Coal Association
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
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