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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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Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
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