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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, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Planning Commission, India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
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