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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, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
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