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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, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
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- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- PTC India Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
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