COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down. The BDI was down by 6.58 pct closing at 1,037 points and the ...


Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...


Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...


Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...


Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...


   929 930 931 932 933   
Showing 4651 to 4655 news of total 6871
News by Category
Popular News
 
Total Members : 28,623
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • Singapore Mercantile Exchange
  • Marubeni Corporation - India
  • Arch Coal - USA
  • Bukit Asam (Persero) Tbk - Indonesia
  • Energy Link Ltd, New Zealand
  • Dalmia Cement Bharat India
  • Globalindo Alam Lestari - Indonesia
  • GMR Energy Limited - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Manunggal Multi Energi - Indonesia
  • Argus Media - Singapore
  • Aboitiz Power Corporation - Philippines
  • Electricity Authority, New Zealand
  • Price Waterhouse Coopers - Russia
  • Mitra SK Pvt Ltd - India
  • PLN Batubara - Indonesia
  • Grasim Industreis Ltd - India
  • Asmin Koalindo Tuhup - Indonesia
  • Meenaskhi Energy Private Limited - India
  • Madhucon Powers Ltd - India
  • Karaikal Port Pvt Ltd - India
  • Toyota Tsusho Corporation, Japan
  • GNFC Limited - India
  • PetroVietnam
  • Sical Logistics Limited - India
  • Shree Cement - India
  • PetroVietnam Power Coal Import and Supply Company
  • Semirara Mining Corp, Philippines
  • Bukit Makmur.PT - Indonesia
  • PowerSource Philippines DevCo
  • Central Electricity Authority - India
  • India Bulls Power Limited - India
  • Georgia Ports Authority, United States
  • Inspectorate - India
  • Barasentosa Lestari - Indonesia
  • Baramulti Group, Indonesia
  • IMC Shipping - Singapore
  • Uttam Galva Steels Limited - India
  • ACC Limited - India
  • J M Baxi & Co - India
  • Ministry of Transport, Egypt
  • Panama Canal Authority
  • Vale Mozambique
  • Bhushan Steel Limited - India
  • Indika Energy - Indonesia
  • Tanito Harum - Indonesia
  • Coaltrans Conferences
  • Carbofer General Trading SA - India
  • TANGEDCO India
  • Electricity Generating Authority of Thailand
  • Noble Europe Ltd - UK
  • Karbindo Abesyapradhi - Indoneisa
  • Sucofindo - Indonesia
  • Runge Indonesia
  • Clarksons - UK
  • NALCO India
  • SRK Consulting
  • Thailand Anthracite
  • Merrill Lynch Bank
  • Larsen & Toubro Limited - India
  • Australian Commodity Traders Exchange
  • IHS Mccloskey Coal Group - USA
  • Cement Manufacturers Association - India
  • Altura Mining Limited, Indonesia
  • TNPL - India
  • Indogreen Group - Indonesia
  • Semirara Mining and Power Corporation, Philippines
  • Bhoruka Overseas - Indonesia
  • Russian Coal LLC
  • TRAFIGURA, South Korea
  • Eastern Energy - Thailand
  • Rio Tinto Coal - Australia
  • APGENCO India
  • World Coal - UK
  • IOL Indonesia
  • Jatenergy - Australia
  • LBH Netherlands Bv - Netherlands
  • Mercuria Energy - Indonesia
  • Parry Sugars Refinery, India
  • Geoservices-GeoAssay Lab
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Coastal Gujarat Power Limited - India
  • Riau Bara Harum - Indonesia
  • Goldman Sachs - Singapore
  • Edison Trading Spa - Italy
  • BRS Brokers - Singapore
  • Credit Suisse - India
  • Ceylon Electricity Board - Sri Lanka
  • CNBM International Corporation - China
  • Arutmin Indonesia
  • Eastern Coal Council - USA
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Malco - India
  • Bukit Baiduri Energy - Indonesia
  • Meralco Power Generation, Philippines
  • Savvy Resources Ltd - HongKong
  • KEPCO - South Korea
  • Maruti Cements - India
  • Oldendorff Carriers - Singapore
  • Ince & co LLP
  • Sindya Power Generating Company Private Ltd
  • Heidelberg Cement - Germany
  • Platou - Singapore
  • Orica Mining Services - Indonesia
  • Essar Steel Hazira Ltd - India
  • Star Paper Mills Limited - India
  • CoalTek, United States
  • SUEK AG - Indonesia
  • bp singapore
  • Maharashtra Electricity Regulatory Commission - India
  • GVK Power & Infra Limited - India
  • Idemitsu - Japan
  • Thai Mozambique Logistica
  • Formosa Plastics Group - Taiwan
  • Sinarmas Energy and Mining - Indonesia
  • Tamil Nadu electricity Board
  • Renaissance Capital - South Africa
  • Cigading International Bulk Terminal - Indonesia
  • Mitsubishi Corporation
  • Maheswari Brothers Coal Limited - India
  • Intertek Mineral Services - Indonesia
  • White Energy Company Limited
  • Simpson Spence & Young - Indonesia
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • globalCOAL - UK
  • Rudhra Energy - India
  • Britmindo - Indonesia
  • McConnell Dowell - Australia
  • Directorate Of Revenue Intelligence - India
  • Kapuas Tunggal Persada - Indonesia
  • Qatrana Cement - Jordan
  • Antam Resourcindo - Indonesia
  • Holcim Trading Pte Ltd - Singapore
  • Cardiff University - UK
  • Sakthi Sugars Limited - India
  • JPMorgan - India
  • Bulk Trading Sa - Switzerland
  • World Bank
  • SN Aboitiz Power Inc, Philippines
  • TGV SRAAC LIMITED, India
  • Binh Thuan Hamico - Vietnam
  • Bayan Resources Tbk. - Indonesia
  • Cebu Energy, Philippines
  • The Treasury - Australian Government
  • Borneo Indobara - Indonesia
  • Planning Commission, India
  • Vitol - Bahrain
  • Commonwealth Bank - Australia
  • PNOC Exploration Corporation - Philippines
  • Posco Energy - South Korea
  • Coeclerici Indonesia
  • Bahari Cakrawala Sebuku - Indonesia
  • U S Energy Resources
  • ASAPP Information Group - India
  • Deloitte Consulting - India
  • Peabody Energy - USA
  • Inco-Indonesia
  • Infraline Energy - India
  • Kalimantan Lumbung Energi - Indonesia
  • Mintek Dendrill Indonesia
  • Gujarat Sidhee Cement - India
  • Attock Cement Pakistan Limited
  • Platts
  • Thomson Reuters GRC
  • Permata Bank - Indonesia
  • Merrill Lynch Commodities Europe
  • Cargill India Pvt Ltd
  • Bank of China, Malaysia
  • Kobexindo Tractors - Indoneisa
  • CESC Limited - India
  • Siam City Cement PLC, Thailand
  • The India Cements Ltd
  • Central Java Power - Indonesia
  • Energy Development Corp, Philippines
  • Enel Italy
  • Sarangani Energy Corporation, Philippines
  • OPG Power Generation Pvt Ltd - India
  • DBS Bank - Singapore
  • ETA - Dubai
  • EMO - The Netherlands
  • Global Business Power Corporation, Philippines
  • Barclays Capital - USA
  • Minerals Council of Australia
  • Gujarat Mineral Development Corp Ltd - India
  • Pinang Coal Indonesia
  • Freeport Indonesia
  • Directorate General of MIneral and Coal - Indonesia
  • Adani Power Ltd - India
  • Mechel - Russia
  • McKinsey & Co - India
  • Glencore India Pvt. Ltd
  • GN Power Mariveles Coal Plant, Philippines
  • Australian Coal Association
  • Interocean Group of Companies - India
  • Makarim & Taira - Indonesia
  • Indian Oil Corporation Limited
  • IBC Asia (S) Pte Ltd
  • Orica Australia Pty. Ltd.
  • Standard Chartered Bank - UAE
  • Vizag Seaport Private Limited - India
  • PTC India Limited - India
  • Kartika Selabumi Mining - Indonesia
  • SMG Consultants - Indonesia
  • Global Coal Blending Company Limited - Australia
  • Wilmar Investment Holdings
  • Indian Energy Exchange, India
  • KPCL - India
  • Ernst & Young Pvt. Ltd.
  • Jorong Barutama Greston.PT - Indonesia
  • New Zealand Coal & Carbon
  • Kohat Cement Company Ltd. - Pakistan
  • Kobe Steel Ltd - Japan
  • Trasteel International SA, Italy
  • Bank of America
  • Mitsui
  • Fearnleys - India
  • Moodys - Singapore
  • ANZ Bank - Australia
  • Metalloyd Limited - United Kingdom
  • Therma Luzon, Inc, Philippines
  • Indian School of Mines
  • CCIC - Indonesia
  • Rashtriya Ispat Nigam Limited - India
  • Vedanta Resources Plc - India
  • Chamber of Mines of South Africa
  • Agrawal Coal Company - India
  • GAC Shipping (India) Pvt Ltd
  • Siam City Cement - Thailand
  • Tata Power - India
  • Miang Besar Coal Terminal - Indonesia
  • Gujarat Electricity Regulatory Commission - India
  • Adaro Indonesia
  • Kepco SPC Power Corporation, Philippines
  • Shenhua Group - China
  • Banpu Public Company Limited - Thailand
  • Independent Power Producers Association of India
  • Salva Resources Pvt Ltd - India
  • UBS Singapore
  • Leighton Contractors Pty Ltd - Australia
  • KOWEPO - South Korea
  • Pendopo Energi Batubara - Indonesia
  • Ministry of Mines - Canada
  • Humpuss - Indonesia
  • GB Group - China
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Coal India Limited
  • GHCL Limited - India
  • Lafarge - France
  • Deutsche Bank - India
  • Petrosea - Indonesia
  • The State Trading Corporation of India Ltd
  • Maersk Broker
  • European Bulk Services B.V. - Netherlands
  • TNB Fuel Sdn Bhd - Malaysia
  • Samtan Co., Ltd - South Korea
  • Gupta Coal India Ltd
  • AsiaOL BioFuels Corp., Philippines
  • The University of Queensland
  • Neyveli Lignite Corporation Ltd, - India
  • Aditya Birla Group - India
  • Indonesia Power. PT
  • London Commodity Brokers - England
  • Medco Energi Mining Internasional
  • Thermax Limited - India
  • PLN - Indonesia
  • EIA - United States
  • Total Coal South Africa
  • Mjunction Services Limited - India
  • Sree Jayajothi Cements Limited - India
  • Jindal Steel & Power Ltd - India
  • Coal Orbis AG
  • Pipit Mutiara Jaya. PT, Indonesia
  • Petron Corporation, Philippines
  • Africa Commodities Group - South Africa
  • Kideco Jaya Agung - Indonesia
  • Ministry of Finance - Indonesia
  • Vijayanagar Sugar Pvt Ltd - India
  • Malabar Cements Ltd - India
  • Thiess Contractors Indonesia
  • SMC Global Power, Philippines
  • Coalindo Energy - Indonesia
  • ICICI Bank Limited - India
  • Japan Coal Energy Center
  • Straits Asia Resources Limited - Singapore
  • Reliance Power - India
  • ING Bank NV - Singapore
  • Power Finance Corporation Ltd., India
  • Asia Cement - Taiwan
  • Global Green Power PLC Corporation, Philippines
  • Surastha Cement
  • SASOL - South Africa
  • Timah Investasi Mineral - Indoneisa
  • Iligan Light & Power Inc, Philippines
  • Kumho Petrochemical, South Korea
  • Berau Coal - Indonesia
  • CIMB Investment Bank - Malaysia
  • Bangladesh Power Developement Board
  • Wood Mackenzie - Singapore
  • International Coal Ventures Pvt Ltd - India
  • Parliament of New Zealand
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Billiton Holdings Pty Ltd - Australia
  • JPower - Japan
  • Economic Council, Georgia
  • WorleyParsons
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Core Mineral Indonesia
  • Lanco Infratech Ltd - India
  • IEA Clean Coal Centre - UK
  • Xstrata Coal
  • Indonesian Coal Mining Association
  • Port Waratah Coal Services - Australia
  • Sojitz Corporation - Japan
  • Jaiprakash Power Ventures ltd
  • Asian Development Bank
  • UOB Asia (HK) Ltd
  • San Jose City I Power Corp, Philippines
  • Romanian Commodities Exchange
  • NTPC Limited - India
  • Bharathi Cement Corporation - India
  • South Luzon Thermal Energy Corporation
  • VISA Power Limited - India
  • Coal and Oil Company - UAE
  • Mercator Lines Limited - India
  • Gresik Semen - Indonesia
  • SGS (Thailand) Limited
  • Krishnapatnam Port Company Ltd. - India
  • Thriveni
  • Ambuja Cements Ltd - India
  • Maybank - Singapore
  • Ind-Barath Power Infra Limited - India
  • Anglo American - United Kingdom
  • TeaM Sual Corporation - Philippines
  • Alfred C Toepfer International GmbH - Germany
  • KPMG - USA
  • Bangkok Bank PCL
  • Kaltim Prima Coal - Indonesia
  • RBS Sempra - UK
  • BNP Paribas - Singapore
  • Indorama - Singapore
  • Chettinad Cement Corporation Ltd - India
  • Samsung - South Korea
  • Cosco
  • Xindia Steels Limited - India
  • HSBC - Hong Kong
  • Videocon Industries ltd - India
  • MEC Coal - Indonesia
  • Indo Tambangraya Megah - Indonesia
  • Bhatia International Limited - India
  • Cemex - Philippines
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Latin American Coal - Colombia
  • MS Steel International - UAE
  • Tata Chemicals Ltd - India
  • OCBC - Singapore