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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, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Central Electricity Authority - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
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