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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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Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
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- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
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