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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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Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
Thursday, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
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- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
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