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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
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