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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, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Australian Coal Association
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
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