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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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Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
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- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- The University of Queensland
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
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