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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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Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
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