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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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Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
Tuesday, 04 December 12
NEWCASTLE PORT SHIPPED 55.88 PERCENT MORE COAL W/E 3 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,796,341 MT of thermal and coking coal for week ended 0700 hours 3 December 2012, Newca ...
Sunday, 02 December 12
YEAR 2013, YEAR OF SUPPLY OR DEMAND?
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1 2013 delivery gained 2.87 & 0.83 percent MoM and WoW respectively ...
Saturday, 01 December 12
TIGHT SUPPLY, DEMAND PUSH INDO-INDIA SUPRAMAX FREIGHT RATES HIGHER - VISTAAR
COALspot.com - The freight market was mixed this week as cape and Panamax indices are closing softer.
The BDI was down 0.37 pct closing at 1,086 ...
Friday, 30 November 12
FUTURE TREND OF SECOND HAND SHIP VALUES PUZZLING SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the major challenges that ship owners are facing today is whether or not to invest in a second hand vessel at any given time. For instance, i ...
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- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Heidelberg Cement - Germany
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
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