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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
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