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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
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