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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, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
Wednesday, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
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- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
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