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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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Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
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- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- PTC India Limited - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
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