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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, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
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- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Aditya Birla Group - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Planning Commission, India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
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