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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
Tuesday, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
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- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- PTC India Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Planning Commission, India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
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