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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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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- PTC India Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
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