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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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Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
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