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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, 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 ...
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- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Central Electricity Authority - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- 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
- Riau Bara Harum - Indonesia
- 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
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- 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
- GMR Energy Limited - 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
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- 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
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- 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
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
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