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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, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
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