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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
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