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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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Friday, 25 October 13
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED TOTALLED 803.1 MMST
COALspot.com – United States the world’s second largest coal producer produced approximately 19.10 million short tons (mmst) of coal in ...
Thursday, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
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- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Central Electricity Authority - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
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