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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
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- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- PTC India Limited - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- White Energy Company Limited
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
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