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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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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
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- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
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