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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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Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
Friday, 12 July 13
U.S. PRODUCED 18.40 MMST COAL WEEK ENDED 6 JULY 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.40 million short tons (mmst) of ...
Thursday, 11 July 13
PANAMAX: PACIFIC ROUND PAY AROUND $6,500/D; ATLANTIC ROUND VOYAGE PAY AROUND US$ 10,000/D - FEARNLEYS AS
Handy
The Feast market is quiet, July date cargoes remain unfixed as there is a gap between what owners aiming and charterers willing to pay. There ...
Wednesday, 10 July 13
DRY BULK MARKET IS STILL STRUGGLING TO SURVIVE - INTERMODAL
COALspot.com : With the first half of the year now behind us and, as expected, most shipping segments in the dry bulk market are struggling to survi ...
Tuesday, 09 July 13
COAL PRICE REMAINS SLUGGISH - TRIMEGAH
COALspot.com - Newcastle coal price has reached US$ 76.30/ton (-15.9% YTD), bringing YTD’13 average to stand at US$ 87.90/ton, 6.80% lower tha ...
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- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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