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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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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
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- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Economic Council, Georgia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
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