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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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Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
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- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
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