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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, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
Wednesday, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
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- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Latin American Coal - Colombia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
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