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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Indika Energy - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
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