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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, 10 February 14
Q1 2015, API 8 CFR SOUTH CHINA COAL SWAP CLOSED AROUND $ 2 HIGHER THAN Q2 14 PRICE
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 2.61 percent month on month and closed at US$ 77.28 per mt as on Frid ...
Monday, 10 February 14
SUPRAMAX STILL AT AROUND US$ 5K + BB 50K DELIVERY KALIMANTAN FOR A TRIP TO INDIA - CAPT. REDDY
COALspot.com: The BDI was down by 1.71 pct and closed at 1091 points week ended 7 February 2014. The BDI seemed to reach the bottom as the cape inde ...
Saturday, 08 February 14
U.S PRODUCED 84.5 MMMST OF COAL IN JANUARY; 2.05% UP MONTH ON MONTH, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 07 February 14
DRY BULK MARKET ON ' REVERSE' MODE DUE TO CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its uninspiring mood throughout yet another week, with the Baltic Dry Index (BDI) hovering slightly above the 1,000-poi ...
Thursday, 06 February 14
INDONESIA'S BAN ON THE EXPORT OF RAW MINERAL ORES COMES INTO FORCE - INCE & CO
COALspot.com: On 12 January 2014, the ban on the export of unprocessed mineral ores came into effect in Indonesia. This ban enforces the Mining Law ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- London Commodity Brokers - England
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
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