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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
Thursday, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
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- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
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