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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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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
...
Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
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