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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, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
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
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Planning Commission, India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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