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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Sunday, 07 March 10
SHIPS WERE FIXED AT AROUND US$ 16,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - CAPT. REDDY
COALspot.com: The freight market was quite buoyant this week and BDI was up by 18 pct . The Cape index up by 23.60 pct and Panamax index was up by 1 ...
Saturday, 06 March 10
ESSAR TO BUY US COAL FIRM FOR $550-600 MN
Business-Standard reported that, the Essar Group is close to buying Trinity Coal, one of the top 10 coal producers in the US, in a deal worth $550-6 ...
Friday, 05 March 10
KARNATAKA POWER SEEKS 900,000 TONS STEAMING COAL OVER 9 MONTHS
Bloomberg reported that, Karnataka Power Corp., an Indian electricity generator, is seeking to import 900,000 metric tons of steaming coal over nine ...
Friday, 05 March 10
COAL RALLY ON CHINESE DEMAND SPARKS $59 ESTIMATES
Bloomberg reportd that, A rally that has boosted coal prices 21 percent from their lows last year may have further to go as the coldest U.S. winter ...
Thursday, 04 March 10
BANPU KEEPS JORONG OUTPUT AT 2M TONNES
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is maintaining an output target of 2 million tonnes this year from its Jorong mi ...
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- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- The University of Queensland
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- White Energy Company Limited
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- PTC India Limited - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
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