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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, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
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- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
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