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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, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
Tuesday, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
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- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
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