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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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Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
Tuesday, 10 September 13
COAL EXPORTS AT AUSTRALIA'S NEWCASTLE PORT SLIP 30.31% ON WEEK TO 2.36 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port down 30.31 per cent week on week to 2.36 million mt f ...
Tuesday, 10 September 13
WORLDWIDE COAL CONSUMPTION RISES SHARPLY - RA DR. ERICH SCHMITZ
By: RA Dr. Erich Schmitz, Verein der Kohlenimporteure (Germany Coal Importers Association)
World hard coal market in the first half of 2013: worl ...
Monday, 09 September 13
REBOUND IN NEWBUILDING ORDERS HASN'T HURT DRY BULK MARKET PROSPECTS, BUT SHIP OWNERS SHOULD STILL BE CAUTIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Since the start of 2013 and up until the end of August, one thing has really caught the headlines in the dry bulk market, except of course, the frei ...
Sunday, 08 September 13
Q3 2014 THERMAL COAL SWAPS : STEADY DIRECTION
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery up 1.88 percent month on month. The swap was moved ...
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- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- The University of Queensland
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
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