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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
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