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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, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- PTC India Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Planning Commission, India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
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