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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, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
Wednesday, 04 September 13
RBCT SHIPPED 16.18 PERCENT MORE COAL IN JULY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal South African as well as in the world has shipped 6,162, ...
Wednesday, 04 September 13
SUPRAS AND HANDIES : INDONESIAN COAL CARGOES ARE SUPPORTING HEALTHY ACTIVITY LEVELS - INTERMODAL
The Dry Bulk market has pooled back a bit this week after firming for two weeks in a row. The BDI is s holding above 1,100 points and despite the sm ...
Tuesday, 03 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 22.93 PER CENT MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 22.93 per cent week on week to 3.39 million mt for ...
Sunday, 01 September 13
COAL SWAP SHOWS MIXED TREND
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery 1.25 percent up month on month. The swap was moved posit ...
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- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- The University of Queensland
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
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