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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, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
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