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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, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
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