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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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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
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