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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- The University of Queensland
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
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