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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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Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
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- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Planning Commission, India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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