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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Sunday, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
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- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- MS Steel International - UAE
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
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