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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, 29 October 10
CHINA'S COAL DEMAND DRIVES DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is posting marginal, yet steady growth this week, with the Baltic Dry Index rising yesterday to 2784 points, up by 0.2%. Both th ...
Wednesday, 27 October 10
TNPL TO AWARD 240,000 MT COAL SUPPLY CONTRACT TO COAL & OIL
COALspot.com: Tamil Nadu Newsprint Papers Limited, Tamil Nadu state owned Newsprint and Printing & Writing Paper producer has opened a coal purc ...
Wednesday, 27 October 10
CHINA AIDS RUSSIA IN DEVELOPING COAL RESOURCES - PEOPLE'S DAILY
People's Daily reported that, Russia will use 6 billion U.S. dollars in loans provided by China to develop coal resources in Sakhalin Island, Elege ...
Wednesday, 27 October 10
MAIDEN COAL SHIPMENTS TO NOBLE RESOURCES - PAN ASIA AUSTRALIA
Press Release :
First Coal Shipments made from Nadvara Coal Project, East Kalimantan
51,616 tonnes delivered from October production &ndas ...
Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
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- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
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