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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, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
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- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Planning Commission, India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
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