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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, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
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- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
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