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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- White Energy Company Limited
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Planning Commission, India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
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