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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Sunday, 18 April 10
GOVT FORMS PANEL FOR RS 12,000-CR (US$ 2.711 BILLION) COAL INDIA IPO - ECONOMIC TIMES
Economic Times reported that, the government has formed an inter-ministerial panel to carry forward the proposed Rs 12,000-crore (US$ 2.711 billion) ...
Sunday, 18 April 10
THE FUTURES FOR THREE YEARS (2010-2012) FOR PANAMAX WAS AT AROUND US$ 21500 PER DAY - VISTAAR
COALspot.com: The BDI indices up by 3.30 pct and overall market continued to be firm except for India to Fareast.
“The cape index for the f ...
Saturday, 17 April 10
DRY BULK SHIPPING MARKET ANALYSIS - BIMCO
Strong Chinese steel market is set to cushion the flood of new Capesize vessels entering the dry bulk fleet Demand: The first quarter of 2010 saw up ...
Saturday, 17 April 10
DRY BULK MARKET EDGES HIGHER ON STRONGER DEMAND
The dry bulk market managed to inch higher by the end of the week as brokers indicated that stronger cargo demand pushed freight rates that much hig ...
Friday, 16 April 10
KRISHNAPATNAM PORT IS IRONING ITS WAY INTO RECORD BOOKS
COALspot.com: Krishnapatnam Port achieved a new benchmark by loading 60,021 MT of Iron Ore fines in just 24 hrs surpassing its previous record of 54 ...
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- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Australian Coal Association
- Indian Energy Exchange, India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
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