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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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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
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- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
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