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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
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