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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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Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
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- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
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