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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, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
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- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- The University of Queensland
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
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