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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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Thursday, 10 October 13
SEVERAL PANAMAX FIXTURES FOR 1 YEAR TC HAVE BEEN REPORTED AROUND $13.5K/DAY - FEARNRESEARCH
Handy
The market is not much fancy as several holidays in the Far East last week. Tonnage side seems tight in SE Asia but there are many of them in ...
Wednesday, 09 October 13
PANAMAX: FIRM ; FIXING ACTIVITY INCREASED IN BOTH BASINS - INTERMODAL
This was another week of gains for the Dry Bulk market, albeit very modest ones compared to the previous ones. Charterers and owners struggled for t ...
Tuesday, 08 October 13
CHINA: INTENSE COMPETITION AMONG DOMESTIC COAL MINERS AS 2013 IMPORT DEMAND REMAINS STRONG - WOOD MACKENZIE
Prices will not fall under RMB500/t or risk supply availability to the coastal market
Despite China's lower economic growth, Wood Mackenzie says ...
Monday, 07 October 13
RICHARD BAY COAL TERMINAL SHIPPED 49.94 MMT OF COAL YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 49,946,509 mt of coals YTD, according to por ...
Monday, 07 October 13
SOUTH AFRICA'S RBCT SHIPPED 7.94% MORE COAL IN SEPT' 13
COALspot.com - Richards Bay Coal Terminal (RBCT), the single largest coal export terminal in South Africa as well as in the world has shipped 7.94 p ...
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- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
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