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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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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Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Anglo American - United Kingdom
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
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