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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 $1 billion as well as buying back up to 5 percent of its floating stocks in the market to stabilize their price.
The approval paves the way for Borneo Lumbung to jointly own a combined 47.6 percent stake in Bumi, previously known as Vallar, with two Bakrie Group affiliates, Bakrie & Brothers (BNBR) and Long Haul Holdings.
Borneo Lumbung is owned by businessman Samin Tan, who also owns investment firm Renaissance Capital.
The extraordinary meeting of shareholders on Friday also approved the appointment of Alexander Ramlie — a former banker at local and overseas lenders and executive at Indonesian private equity firm Ancora Capital — as Borneo Lumbung’s new chief executive, replacing Samin.
Samin indirectly controls 73 percent of the company.
“I was asked to replace him [Samin]. That will be effective from today,” Ramlie told reporters. Samin will be nominated for a position at the board of Bumi, replacing Indra Bakrie.
The Bakrie family has been rumored to have close ties with Samin’s business empire, although it has gone on record to deny the existence of any structural connection.
Proceeds from the stock sale to Borneo Lumbung will be used to help refinance Bakrie’s mounting debt, which is owed to a number of overseas lenders, led by Credit Suisse.
Borneo Lumbung’s shares closed 1.2 percent higher on the Indonesia Stock Exchange on Friday, at Rp 830.
Source: The Jakarta Globe
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Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
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- Marubeni Corporation - India
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Planning Commission, India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
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