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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- White Energy Company Limited
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
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