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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
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