COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...


Friday, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...


Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...


Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...


Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...


   677 678 679 680 681   
Showing 3391 to 3395 news of total 6871
News by Category
Popular News
 
Total Members : 28,623
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Latin American Coal - Colombia
  • KOWEPO - South Korea
  • Permata Bank - Indonesia
  • ICICI Bank Limited - India
  • Bukit Asam (Persero) Tbk - Indonesia
  • Power Finance Corporation Ltd., India
  • San Jose City I Power Corp, Philippines
  • Pinang Coal Indonesia
  • Xindia Steels Limited - India
  • Miang Besar Coal Terminal - Indonesia
  • MEC Coal - Indonesia
  • SUEK AG - Indonesia
  • Gujarat Mineral Development Corp Ltd - India
  • Coal Orbis AG
  • Kobexindo Tractors - Indoneisa
  • Total Coal South Africa
  • Sindya Power Generating Company Private Ltd
  • Directorate Of Revenue Intelligence - India
  • Cebu Energy, Philippines
  • Mjunction Services Limited - India
  • Timah Investasi Mineral - Indoneisa
  • Thomson Reuters GRC
  • PLN Batubara - Indonesia
  • Orica Australia Pty. Ltd.
  • Russian Coal LLC
  • MS Steel International - UAE
  • Wilmar Investment Holdings
  • J M Baxi & Co - India
  • Leighton Contractors Pty Ltd - Australia
  • Metalloyd Limited - United Kingdom
  • World Bank
  • Mitsui
  • UBS Singapore
  • Banpu Public Company Limited - Thailand
  • Rio Tinto Coal - Australia
  • Shenhua Group - China
  • Cemex - Philippines
  • Ministry of Mines - Canada
  • ETA - Dubai
  • Bhushan Steel Limited - India
  • Intertek Mineral Services - Indonesia
  • Ministry of Transport, Egypt
  • OCBC - Singapore
  • Orica Mining Services - Indonesia
  • Renaissance Capital - South Africa
  • NALCO India
  • Bulk Trading Sa - Switzerland
  • Oldendorff Carriers - Singapore
  • Straits Asia Resources Limited - Singapore
  • Meralco Power Generation, Philippines
  • Idemitsu - Japan
  • Tamil Nadu electricity Board
  • Enel Italy
  • Billiton Holdings Pty Ltd - Australia
  • NTPC Limited - India
  • Georgia Ports Authority, United States
  • Cardiff University - UK
  • The Treasury - Australian Government
  • Clarksons - UK
  • Maersk Broker
  • Central Electricity Authority - India
  • Anglo American - United Kingdom
  • New Zealand Coal & Carbon
  • Surastha Cement
  • Platts
  • Coalindo Energy - Indonesia
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • Global Business Power Corporation, Philippines
  • SASOL - South Africa
  • Asian Development Bank
  • Siam City Cement PLC, Thailand
  • Humpuss - Indonesia
  • Karbindo Abesyapradhi - Indoneisa
  • Merrill Lynch Commodities Europe
  • Videocon Industries ltd - India
  • Uttam Galva Steels Limited - India
  • Vijayanagar Sugar Pvt Ltd - India
  • HSBC - Hong Kong
  • Moodys - Singapore
  • Coal India Limited
  • Inspectorate - India
  • Siam City Cement - Thailand
  • Indogreen Group - Indonesia
  • Infraline Energy - India
  • Britmindo - Indonesia
  • Coastal Gujarat Power Limited - India
  • Kohat Cement Company Ltd. - Pakistan
  • TeaM Sual Corporation - Philippines
  • Core Mineral Indonesia
  • AsiaOL BioFuels Corp., Philippines
  • Australian Coal Association
  • Bukit Baiduri Energy - Indonesia
  • SMG Consultants - Indonesia
  • Port Waratah Coal Services - Australia
  • Independent Power Producers Association of India
  • Bukit Makmur.PT - Indonesia
  • Jindal Steel & Power Ltd - India
  • SMC Global Power, Philippines
  • Sarangani Energy Corporation, Philippines
  • Bayan Resources Tbk. - Indonesia
  • Maheswari Brothers Coal Limited - India
  • Kumho Petrochemical, South Korea
  • Sucofindo - Indonesia
  • Riau Bara Harum - Indonesia
  • Fearnleys - India
  • Bharathi Cement Corporation - India
  • Coal and Oil Company - UAE
  • OPG Power Generation Pvt Ltd - India
  • Eastern Coal Council - USA
  • Attock Cement Pakistan Limited
  • European Bulk Services B.V. - Netherlands
  • Pipit Mutiara Jaya. PT, Indonesia
  • GN Power Mariveles Coal Plant, Philippines
  • RBS Sempra - UK
  • Therma Luzon, Inc, Philippines
  • Tanito Harum - Indonesia
  • South Luzon Thermal Energy Corporation
  • Manunggal Multi Energi - Indonesia
  • Thailand Anthracite
  • IBC Asia (S) Pte Ltd
  • Kartika Selabumi Mining - Indonesia
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Larsen & Toubro Limited - India
  • Indian School of Mines
  • Australian Commodity Traders Exchange
  • Madhucon Powers Ltd - India
  • Lanco Infratech Ltd - India
  • Parry Sugars Refinery, India
  • Kideco Jaya Agung - Indonesia
  • Indo Tambangraya Megah - Indonesia
  • Vedanta Resources Plc - India
  • Globalindo Alam Lestari - Indonesia
  • Aboitiz Power Corporation - Philippines
  • Formosa Plastics Group - Taiwan
  • Meenaskhi Energy Private Limited - India
  • PetroVietnam
  • GMR Energy Limited - India
  • KPCL - India
  • Indian Oil Corporation Limited
  • Kapuas Tunggal Persada - Indonesia
  • GAC Shipping (India) Pvt Ltd
  • Thai Mozambique Logistica
  • Salva Resources Pvt Ltd - India
  • Gujarat Electricity Regulatory Commission - India
  • Sakthi Sugars Limited - India
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Runge Indonesia
  • SGS (Thailand) Limited
  • Chamber of Mines of South Africa
  • GB Group - China
  • Xstrata Coal
  • Antam Resourcindo - Indonesia
  • KEPCO - South Korea
  • Simpson Spence & Young - Indonesia
  • UOB Asia (HK) Ltd
  • Global Green Power PLC Corporation, Philippines
  • Coaltrans Conferences
  • Minerals Council of Australia
  • Tata Power - India
  • IEA Clean Coal Centre - UK
  • Peabody Energy - USA
  • TRAFIGURA, South Korea
  • TNPL - India
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Adani Power Ltd - India
  • Africa Commodities Group - South Africa
  • Kobe Steel Ltd - Japan
  • Lafarge - France
  • Grasim Industreis Ltd - India
  • London Commodity Brokers - England
  • Jorong Barutama Greston.PT - Indonesia
  • Samtan Co., Ltd - South Korea
  • IOL Indonesia
  • TGV SRAAC LIMITED, India
  • globalCOAL - UK
  • Alfred C Toepfer International GmbH - Germany
  • CoalTek, United States
  • Shree Cement - India
  • Thermax Limited - India
  • World Coal - UK
  • Freeport Indonesia
  • Ind-Barath Power Infra Limited - India
  • Electricity Generating Authority of Thailand
  • Noble Europe Ltd - UK
  • Dalmia Cement Bharat India
  • Ambuja Cements Ltd - India
  • Savvy Resources Ltd - HongKong
  • Thiess Contractors Indonesia
  • Panama Canal Authority
  • Rudhra Energy - India
  • TANGEDCO India
  • EMO - The Netherlands
  • Energy Development Corp, Philippines
  • PTC India Limited - India
  • Kalimantan Lumbung Energi - Indonesia
  • Medco Energi Mining Internasional
  • Vitol - Bahrain
  • Bangladesh Power Developement Board
  • Sinarmas Energy and Mining - Indonesia
  • The India Cements Ltd
  • McKinsey & Co - India
  • Cosco
  • Aditya Birla Group - India
  • Bhatia International Limited - India
  • Deutsche Bank - India
  • bp singapore
  • Romanian Commodities Exchange
  • White Energy Company Limited
  • Inco-Indonesia
  • Planning Commission, India
  • IHS Mccloskey Coal Group - USA
  • Agrawal Coal Company - India
  • Cigading International Bulk Terminal - Indonesia
  • Argus Media - Singapore
  • Petron Corporation, Philippines
  • Malco - India
  • GVK Power & Infra Limited - India
  • BNP Paribas - Singapore
  • Arch Coal - USA
  • WorleyParsons
  • Holcim Trading Pte Ltd - Singapore
  • Central Java Power - Indonesia
  • Directorate General of MIneral and Coal - Indonesia
  • Sical Logistics Limited - India
  • LBH Netherlands Bv - Netherlands
  • BRS Brokers - Singapore
  • Berau Coal - Indonesia
  • SN Aboitiz Power Inc, Philippines
  • Platou - Singapore
  • ACC Limited - India
  • Posco Energy - South Korea
  • Mercuria Energy - Indonesia
  • Jatenergy - Australia
  • Interocean Group of Companies - India
  • JPMorgan - India
  • Pendopo Energi Batubara - Indonesia
  • Petrosea - Indonesia
  • Price Waterhouse Coopers - Russia
  • ASAPP Information Group - India
  • PLN - Indonesia
  • Maybank - Singapore
  • Mercator Lines Limited - India
  • Ministry of Finance - Indonesia
  • Rashtriya Ispat Nigam Limited - India
  • Economic Council, Georgia
  • International Coal Ventures Pvt Ltd - India
  • Borneo Indobara - Indonesia
  • Iligan Light & Power Inc, Philippines
  • Asmin Koalindo Tuhup - Indonesia
  • Ceylon Electricity Board - Sri Lanka
  • Coeclerici Indonesia
  • Asia Cement - Taiwan
  • PowerSource Philippines DevCo
  • Samsung - South Korea
  • TNB Fuel Sdn Bhd - Malaysia
  • Indika Energy - Indonesia
  • Arutmin Indonesia
  • Gresik Semen - Indonesia
  • Semirara Mining Corp, Philippines
  • Eastern Energy - Thailand
  • CNBM International Corporation - China
  • Petrochimia International Co. Ltd.- Taiwan
  • Indian Energy Exchange, India
  • IMC Shipping - Singapore
  • Indorama - Singapore
  • Reliance Power - India
  • Bank of China, Malaysia
  • Mitra SK Pvt Ltd - India
  • PetroVietnam Power Coal Import and Supply Company
  • CESC Limited - India
  • Mintek Dendrill Indonesia
  • Maruti Cements - India
  • JPower - Japan
  • Goldman Sachs - Singapore
  • Singapore Mercantile Exchange
  • India Bulls Power Limited - India
  • Star Paper Mills Limited - India
  • Wood Mackenzie - Singapore
  • GNFC Limited - India
  • Barclays Capital - USA
  • Gujarat Sidhee Cement - India
  • Electricity Authority, New Zealand
  • Adaro Indonesia
  • Gupta Coal India Ltd
  • Binh Thuan Hamico - Vietnam
  • U S Energy Resources
  • Geoservices-GeoAssay Lab
  • Bank of America
  • Kepco SPC Power Corporation, Philippines
  • Bahari Cakrawala Sebuku - Indonesia
  • Ince & co LLP
  • KPMG - USA
  • Edison Trading Spa - Italy
  • Vizag Seaport Private Limited - India
  • Sree Jayajothi Cements Limited - India
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Credit Suisse - India
  • Glencore India Pvt. Ltd
  • Deloitte Consulting - India
  • ANZ Bank - Australia
  • The State Trading Corporation of India Ltd
  • PNOC Exploration Corporation - Philippines
  • Carbofer General Trading SA - India
  • Bangkok Bank PCL
  • Vale Mozambique
  • McConnell Dowell - Australia
  • APGENCO India
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Karaikal Port Pvt Ltd - India
  • Marubeni Corporation - India
  • Commonwealth Bank - Australia
  • DBS Bank - Singapore
  • Trasteel International SA, Italy
  • VISA Power Limited - India
  • Parliament of New Zealand
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Malabar Cements Ltd - India
  • Mechel - Russia
  • Japan Coal Energy Center
  • Mitsubishi Corporation
  • Ernst & Young Pvt. Ltd.
  • Indonesian Coal Mining Association
  • Barasentosa Lestari - Indonesia
  • Jaiprakash Power Ventures ltd
  • CCIC - Indonesia
  • Tata Chemicals Ltd - India
  • Standard Chartered Bank - UAE
  • GHCL Limited - India
  • Neyveli Lignite Corporation Ltd, - India
  • Sojitz Corporation - Japan
  • Cargill India Pvt Ltd
  • ING Bank NV - Singapore
  • SRK Consulting
  • Merrill Lynch Bank
  • Makarim & Taira - Indonesia
  • The University of Queensland
  • Altura Mining Limited, Indonesia
  • Bhoruka Overseas - Indonesia
  • Indonesia Power. PT
  • Qatrana Cement - Jordan
  • Energy Link Ltd, New Zealand
  • Chettinad Cement Corporation Ltd - India
  • Baramulti Group, Indonesia
  • CIMB Investment Bank - Malaysia
  • Cement Manufacturers Association - India
  • Heidelberg Cement - Germany
  • Krishnapatnam Port Company Ltd. - India
  • Maharashtra Electricity Regulatory Commission - India
  • Essar Steel Hazira Ltd - India
  • Toyota Tsusho Corporation, Japan
  • Global Coal Blending Company Limited - Australia
  • EIA - United States
  • Semirara Mining and Power Corporation, Philippines
  • Thriveni
  • Kaltim Prima Coal - Indonesia