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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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Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
Friday, 07 June 13
MEDITERRANEAN COAL MARKETS
Press Release: 3rd International Conference Mediterranean Coal Markets will be held on 16-17th of September 2013, Istanbul, Turkey, Ceylan Intercont ...
Friday, 07 June 13
US'S COAL PRODUCTION INCREASED BY 0.54 PER CENT THE WEEK ENDED JUNE 1
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.60 million short tons (mmst) of ...
Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...
Wednesday, 05 June 13
DON'T AVOID PAYING COAL ROYALTY TO THE GOVERNMENT - INDONESIAN ENERGY MINISTER
COALspot.com – “Every country has the right to make policies to protect their national interests”, Energy and Mineral Resources Mi ...
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- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
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