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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, 02 July 14
THE PANAMAX MARKET CONTINUED TO BLEED FOR ANOTHER WEEK - INTERMODAL
COALspot.com: The Dry Bulk market succumbed to mounting pressure this past week, while the Capesize market proved unable to “save the day&rdq ...
Wednesday, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
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