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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
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