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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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Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
Saturday, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
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- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- The University of Queensland
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Rio Tinto Coal - Australia
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