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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- White Energy Company Limited
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
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