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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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Friday, 28 June 13
U.S. PRODUCED 1.52 PERCENT LESS COAL WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.40 million short tons (mmst) of ...
Thursday, 27 June 13
US COAL EXPORTS BEATS CHINESE COAL IMPORTS AS THE MOST INFLUENTIAL COAL TRADE - BIMCO
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 millio ...
Thursday, 27 June 13
HANDY : USD 12000 FOR SPOT COAL INDO/CHINA AND AROUND USD 13000 INDO/ECI - FEARNLEYS
Handy
Atlantic rates hold well. Continent to Far East is worth more than USD 14k daily whilst USG to Far East pay 23/24k a day. On the route from B ...
Thursday, 27 June 13
DRY BULK CARRIERS DOMINATE NEWBUILDING ORDERS AS SHIP OWNERS ARE ENCOURAGED BY LATEST FREIGHT RATE RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders for dry bulk carriers were already high, compared to last year, prior to the latest rally of the Baltic Dry Index (BDI), which ha ...
Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels fo ...
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- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Planning Commission, India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Australian Coal Association
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
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