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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, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
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- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
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