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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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Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
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- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
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