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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 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
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