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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, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
Friday, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
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- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- PTC India Limited - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
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