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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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Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
Thursday, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
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- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
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