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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
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