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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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Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
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- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- The University of Queensland
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Latin American Coal - Colombia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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