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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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Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
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- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
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