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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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Monday, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in car ...
Monday, 16 September 13
CFR SOUTH CHINA COAL SWAP: STABLE TO STEADY
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 16 September 13
INDONESIAN SUB-BIT COAL SWAP STRUGGLING TO FINDS THE RIGHT PATH
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 0.75 percept month on month on Friday 13 Septe ...
Sunday, 15 September 13
CAPE FREIGHT RATES RISE ON HIGH DEMAND AND TIGHT AVAILABILITY - CAPT. REDDY
COALspot.com : The BDI, Cape and Panamax indices are continued to rise and saw a steep surge with average index in these segments up around 25 pct w ...
Friday, 13 September 13
US COAL OUTPUT SLIPS 3.34% ON-WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.20 million short tons (mmst) of ...
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- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
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