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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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Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
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- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
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