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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
Monday, 30 June 14
INDO - INDIA FREIGHT RATES CONTINUE TO WEAK
COALspot.com: The latest dry Index shows that average all-in spot freight declined, the Panamax and Supramax slipping by 9.11 percent and 4% respec ...
Friday, 27 June 14
DRY BULK MARKET STILL LOOKING FOR UPSIDE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept up its lacklustre performance during the past week, as evidenced by the course of the Baltic Dry Index (BDI). The BDI ...
Thursday, 26 June 14
PANAMAX : A PACIFIC ROUND PAYS AROUND US$ 3K DAILY - FEARNLEYS AS
Handy
In the Atlantic there has been little activity which again has caused rates to slip across all trades. TA´s are now down to US$ 5,500 ...
Thursday, 26 June 14
KOMIPO INVITES BIDS FOR TOTAL 750K MT OF BITUMINOUS COAL FOR 3CY
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) has issued a new tender for supply of total 250,000 MT of bituminous co ...
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- Energy Development Corp, Philippines
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
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