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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, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Central Java Power - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Mines - Canada
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Bhatia International Limited - India
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