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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
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