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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, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
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- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
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