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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, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
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