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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
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- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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