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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, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
Sunday, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
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- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
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