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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, 18 October 13
WOOD MACKENZIE FORECASTS CHINA WILL OUTWEIGH THE REST OF THE WORLD FOR BASE METALS DEMAND BY 2017
China set to account for 52% of 117mt base metals market by 2017
China is on track to exceed rest of the World demand by 2017, becoming the singl ...
Friday, 18 October 13
DRY BULK MARKET ON "PAUSE" MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on "pause" mode over the past week, after China's return from the week long holidays. The industry's benchm ...
Friday, 18 October 13
US PRODUCED 6.7% MORE COAL W-W
COALspot.com – United States the world’s second largest coal producer produced approximately 18.9 million short tons (mmst) of coal in a ...
Thursday, 17 October 13
CAPESIZE: RATES ARE AGAIN MOVING UPWARDS - FEARNRESEARCH
Handy
Activities were obviously slowed down in the Pacific basin. There were only few coal movements which fixed around USD 15-16k for ships in Sin ...
Thursday, 17 October 13
SGX TO LAUNCH "SGX THERMAL COAL FUTURES" NEXT MONDAY
COALspot.com: SGX is to launch two thermal coal futures contracts, SGX API 8 CFR China Coal Index Futures and SGX IHS McCloskey Indonesian Sub-bit F ...
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- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- White Energy Company Limited
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Wilmar Investment Holdings
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Goldman Sachs - Singapore
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