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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, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- MS Steel International - UAE
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
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