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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, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
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- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
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