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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Planning Commission, India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
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