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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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Sunday, 29 September 13
SUB-BIT INDONESIA COAL SWAP FELL ON MONTH AND WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 3.93 percept month on month on Friday 27 September 2 ...
Friday, 27 September 13
TAIWAN'S FORMOSA TO IMPORT 140K MT OF BITUMINOUS COAL FOR Q4
COALspot.com : Taiwan's Formosa Plastics Group is inviting bids for 140,000 mt of bituminous coal for delivery in the Q4 for its China plant.
Ac ...
Friday, 27 September 13
CAPESIZES REGAINING PART OF THEIR FORMER GLORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The latest dry bulk market rally has been nothing short of spectacular, with freight rates more than doubling over the past few weeks. This growth h ...
Friday, 27 September 13
US PRODUCED 19.30 MMST OF COAL IN SEVEN DAYS
COALspot.com – United States the world’s second largest coal producer produced approximately 19.30 million short tons (mmst) of coal in ...
Thursday, 26 September 13
PANAMAX MARKET CONTINUE WITH STRONG RATES IN BOTH BASINS - FEARNRESEARCH
Handy
Feast rates are still firm, some fresh stems entered the market. Vessels trading around $15k passing Singapore for coal to India, and a bit l ...
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- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
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