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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, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
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- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- PTC India Limited - India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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