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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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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
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- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- The University of Queensland
- MS Steel International - UAE
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
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