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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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Friday, 30 November 12
IS INDONESIAN COAL INDUSTRY DEPENDS HEAVILY ON INDIA AND CHINA?
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 35,143,587* tons of coal in October 2012. October exports are 19 ...
Thursday, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
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- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- White Energy Company Limited
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
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