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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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Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
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