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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 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
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