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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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Sunday, 19 October 14
LOW DEMAND PUSHES DOWN COAL FREIGHT RATES; VOLATILITY CONTINUES
COALspot.com: This week all the segments softened including BDI except for Panamax index.
The BDI was down by1.70 pct and clsoed at 944 points ...
Friday, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
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- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
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