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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
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- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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