COALspot.com keeps you connected across the coal world

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


Search News
Latest CoalNews Headlines
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



If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Monday, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...


Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...


Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...


Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy The Atlantic market kept its strong position from last week.  Even with fewer fixtures reported.  Fronthauls still around 25k, wit ...


Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...


   997 998 999 1000 1001   
Showing 4991 to 4995 news of total 6871
News by Category
Popular News
 
Total Members : 28,623
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • UBS Singapore
  • CCIC - Indonesia
  • Ministry of Transport, Egypt
  • Inspectorate - India
  • Bahari Cakrawala Sebuku - Indonesia
  • Savvy Resources Ltd - HongKong
  • Altura Mining Limited, Indonesia
  • Marubeni Corporation - India
  • Directorate Of Revenue Intelligence - India
  • JPMorgan - India
  • Siam City Cement PLC, Thailand
  • Salva Resources Pvt Ltd - India
  • Orica Australia Pty. Ltd.
  • Inco-Indonesia
  • GNFC Limited - India
  • Lafarge - France
  • Sarangani Energy Corporation, Philippines
  • VISA Power Limited - India
  • Toyota Tsusho Corporation, Japan
  • Global Business Power Corporation, Philippines
  • Heidelberg Cement - Germany
  • TANGEDCO India
  • Baramulti Group, Indonesia
  • Sical Logistics Limited - India
  • BRS Brokers - Singapore
  • HSBC - Hong Kong
  • Sucofindo - Indonesia
  • Power Finance Corporation Ltd., India
  • McKinsey & Co - India
  • Chettinad Cement Corporation Ltd - India
  • Noble Europe Ltd - UK
  • Central Java Power - Indonesia
  • Borneo Indobara - Indonesia
  • Coastal Gujarat Power Limited - India
  • Bukit Asam (Persero) Tbk - Indonesia
  • Iligan Light & Power Inc, Philippines
  • Lanco Infratech Ltd - India
  • Romanian Commodities Exchange
  • JPower - Japan
  • Energy Link Ltd, New Zealand
  • Australian Commodity Traders Exchange
  • Qatrana Cement - Jordan
  • Bayan Resources Tbk. - Indonesia
  • Agrawal Coal Company - India
  • Ministry of Finance - Indonesia
  • BNP Paribas - Singapore
  • Holcim Trading Pte Ltd - Singapore
  • PLN - Indonesia
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • KOWEPO - South Korea
  • SRK Consulting
  • Bangladesh Power Developement Board
  • OCBC - Singapore
  • Sakthi Sugars Limited - India
  • Gujarat Sidhee Cement - India
  • SUEK AG - Indonesia
  • Goldman Sachs - Singapore
  • MS Steel International - UAE
  • Mjunction Services Limited - India
  • TNB Fuel Sdn Bhd - Malaysia
  • Mitsubishi Corporation
  • India Bulls Power Limited - India
  • Cargill India Pvt Ltd
  • Thailand Anthracite
  • Attock Cement Pakistan Limited
  • Merrill Lynch Commodities Europe
  • San Jose City I Power Corp, Philippines
  • Xindia Steels Limited - India
  • SMG Consultants - Indonesia
  • GVK Power & Infra Limited - India
  • Ambuja Cements Ltd - India
  • U S Energy Resources
  • Thermax Limited - India
  • Deloitte Consulting - India
  • Idemitsu - Japan
  • Edison Trading Spa - Italy
  • Uttam Galva Steels Limited - India
  • EIA - United States
  • South Luzon Thermal Energy Corporation
  • Riau Bara Harum - Indonesia
  • Geoservices-GeoAssay Lab
  • Asia Cement - Taiwan
  • Jaiprakash Power Ventures ltd
  • Mitsui
  • Kalimantan Lumbung Energi - Indonesia
  • EMO - The Netherlands
  • Electricity Authority, New Zealand
  • Oldendorff Carriers - Singapore
  • Bukit Baiduri Energy - Indonesia
  • LBH Netherlands Bv - Netherlands
  • TGV SRAAC LIMITED, India
  • Deutsche Bank - India
  • Kapuas Tunggal Persada - Indonesia
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Indika Energy - Indonesia
  • Malabar Cements Ltd - India
  • Infraline Energy - India
  • Leighton Contractors Pty Ltd - Australia
  • Asian Development Bank
  • SGS (Thailand) Limited
  • SASOL - South Africa
  • RBS Sempra - UK
  • Metalloyd Limited - United Kingdom
  • CNBM International Corporation - China
  • ETA - Dubai
  • Mintek Dendrill Indonesia
  • Latin American Coal - Colombia
  • Bhatia International Limited - India
  • Larsen & Toubro Limited - India
  • Port Waratah Coal Services - Australia
  • Core Mineral Indonesia
  • Maersk Broker
  • New Zealand Coal & Carbon
  • Xstrata Coal
  • SMC Global Power, Philippines
  • Energy Development Corp, Philippines
  • World Coal - UK
  • The Treasury - Australian Government
  • Interocean Group of Companies - India
  • Credit Suisse - India
  • Star Paper Mills Limited - India
  • Anglo American - United Kingdom
  • ASAPP Information Group - India
  • Pinang Coal Indonesia
  • PNOC Exploration Corporation - Philippines
  • Ministry of Mines - Canada
  • Intertek Mineral Services - Indonesia
  • Bhoruka Overseas - Indonesia
  • Thomson Reuters GRC
  • Economic Council, Georgia
  • Glencore India Pvt. Ltd
  • Tamil Nadu electricity Board
  • Renaissance Capital - South Africa
  • Global Coal Blending Company Limited - Australia
  • Trasteel International SA, Italy
  • Jorong Barutama Greston.PT - Indonesia
  • Neyveli Lignite Corporation Ltd, - India
  • Bharathi Cement Corporation - India
  • PetroVietnam Power Coal Import and Supply Company
  • SN Aboitiz Power Inc, Philippines
  • Maharashtra Electricity Regulatory Commission - India
  • Straits Asia Resources Limited - Singapore
  • Eastern Energy - Thailand
  • Jatenergy - Australia
  • Moodys - Singapore
  • Medco Energi Mining Internasional
  • Coal Orbis AG
  • Coal India Limited
  • Antam Resourcindo - Indonesia
  • Platts
  • Indonesian Coal Mining Association
  • Japan Coal Energy Center
  • Global Green Power PLC Corporation, Philippines
  • Mechel - Russia
  • MEC Coal - Indonesia
  • Coeclerici Indonesia
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Independent Power Producers Association of India
  • Rashtriya Ispat Nigam Limited - India
  • ACC Limited - India
  • Binh Thuan Hamico - Vietnam
  • Gresik Semen - Indonesia
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • The State Trading Corporation of India Ltd
  • Sojitz Corporation - Japan
  • Makarim & Taira - Indonesia
  • Africa Commodities Group - South Africa
  • The University of Queensland
  • Wilmar Investment Holdings
  • Cebu Energy, Philippines
  • Russian Coal LLC
  • Karaikal Port Pvt Ltd - India
  • Simpson Spence & Young - Indonesia
  • NTPC Limited - India
  • APGENCO India
  • Gujarat Electricity Regulatory Commission - India
  • Tanito Harum - Indonesia
  • TeaM Sual Corporation - Philippines
  • Singapore Mercantile Exchange
  • Kepco SPC Power Corporation, Philippines
  • Maruti Cements - India
  • Minerals Council of Australia
  • Vizag Seaport Private Limited - India
  • Meralco Power Generation, Philippines
  • Jindal Steel & Power Ltd - India
  • Semirara Mining and Power Corporation, Philippines
  • White Energy Company Limited
  • GHCL Limited - India
  • Kideco Jaya Agung - Indonesia
  • Britmindo - Indonesia
  • Cemex - Philippines
  • Mitra SK Pvt Ltd - India
  • Coalindo Energy - Indonesia
  • IMC Shipping - Singapore
  • Fearnleys - India
  • Price Waterhouse Coopers - Russia
  • Meenaskhi Energy Private Limited - India
  • Sree Jayajothi Cements Limited - India
  • The India Cements Ltd
  • Clarksons - UK
  • Cardiff University - UK
  • Berau Coal - Indonesia
  • Shree Cement - India
  • Bukit Makmur.PT - Indonesia
  • Kumho Petrochemical, South Korea
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • ANZ Bank - Australia
  • Kaltim Prima Coal - Indonesia
  • McConnell Dowell - Australia
  • Asmin Koalindo Tuhup - Indonesia
  • International Coal Ventures Pvt Ltd - India
  • European Bulk Services B.V. - Netherlands
  • Videocon Industries ltd - India
  • Electricity Generating Authority of Thailand
  • Gujarat Mineral Development Corp Ltd - India
  • UOB Asia (HK) Ltd
  • Petron Corporation, Philippines
  • Grasim Industreis Ltd - India
  • TRAFIGURA, South Korea
  • Maybank - Singapore
  • London Commodity Brokers - England
  • Manunggal Multi Energi - Indonesia
  • CoalTek, United States
  • Eastern Coal Council - USA
  • TNPL - India
  • Vedanta Resources Plc - India
  • Karbindo Abesyapradhi - Indoneisa
  • Madhucon Powers Ltd - India
  • Australian Coal Association
  • WorleyParsons
  • World Bank
  • AsiaOL BioFuels Corp., Philippines
  • Parliament of New Zealand
  • Total Coal South Africa
  • Barasentosa Lestari - Indonesia
  • Vale Mozambique
  • Merrill Lynch Bank
  • Central Electricity Authority - India
  • Rudhra Energy - India
  • ICICI Bank Limited - India
  • Cement Manufacturers Association - India
  • Maheswari Brothers Coal Limited - India
  • Pendopo Energi Batubara - Indonesia
  • KEPCO - South Korea
  • PetroVietnam
  • PTC India Limited - India
  • GMR Energy Limited - India
  • Ernst & Young Pvt. Ltd.
  • Parry Sugars Refinery, India
  • Vitol - Bahrain
  • Bank of America
  • Mercuria Energy - Indonesia
  • Arch Coal - USA
  • Surastha Cement
  • Thai Mozambique Logistica
  • Adaro Indonesia
  • Samtan Co., Ltd - South Korea
  • Miang Besar Coal Terminal - Indonesia
  • Krishnapatnam Port Company Ltd. - India
  • Timah Investasi Mineral - Indoneisa
  • Aditya Birla Group - India
  • IBC Asia (S) Pte Ltd
  • Aboitiz Power Corporation - Philippines
  • Standard Chartered Bank - UAE
  • Indian Energy Exchange, India
  • Banpu Public Company Limited - Thailand
  • Thriveni
  • Petrosea - Indonesia
  • Permata Bank - Indonesia
  • Indian Oil Corporation Limited
  • OPG Power Generation Pvt Ltd - India
  • Kartika Selabumi Mining - Indonesia
  • Panama Canal Authority
  • Dalmia Cement Bharat India
  • Carbofer General Trading SA - India
  • Samsung - South Korea
  • Ceylon Electricity Board - Sri Lanka
  • Wood Mackenzie - Singapore
  • Sindya Power Generating Company Private Ltd
  • Kobe Steel Ltd - Japan
  • Tata Chemicals Ltd - India
  • Sinarmas Energy and Mining - Indonesia
  • Argus Media - Singapore
  • Bank of China, Malaysia
  • globalCOAL - UK
  • Indonesia Power. PT
  • CIMB Investment Bank - Malaysia
  • Mercator Lines Limited - India
  • Petrochimia International Co. Ltd.- Taiwan
  • Directorate General of MIneral and Coal - Indonesia
  • Cigading International Bulk Terminal - Indonesia
  • GB Group - China
  • Globalindo Alam Lestari - Indonesia
  • Runge Indonesia
  • Orica Mining Services - Indonesia
  • Thiess Contractors Indonesia
  • ING Bank NV - Singapore
  • Ince & co LLP
  • Bhushan Steel Limited - India
  • Kobexindo Tractors - Indoneisa
  • IEA Clean Coal Centre - UK
  • Bangkok Bank PCL
  • KPCL - India
  • Rio Tinto Coal - Australia
  • KPMG - USA
  • Shenhua Group - China
  • Formosa Plastics Group - Taiwan
  • Indorama - Singapore
  • Coaltrans Conferences
  • PLN Batubara - Indonesia
  • Coal and Oil Company - UAE
  • CESC Limited - India
  • Pipit Mutiara Jaya. PT, Indonesia
  • PowerSource Philippines DevCo
  • Posco Energy - South Korea
  • Malco - India
  • J M Baxi & Co - India
  • Vijayanagar Sugar Pvt Ltd - India
  • Indian School of Mines
  • Barclays Capital - USA
  • Semirara Mining Corp, Philippines
  • Reliance Power - India
  • Freeport Indonesia
  • Bulk Trading Sa - Switzerland
  • Chamber of Mines of South Africa
  • DBS Bank - Singapore
  • Platou - Singapore
  • GAC Shipping (India) Pvt Ltd
  • Indo Tambangraya Megah - Indonesia
  • IHS Mccloskey Coal Group - USA
  • Arutmin Indonesia
  • Indogreen Group - Indonesia
  • NALCO India
  • Planning Commission, India
  • Gupta Coal India Ltd
  • Commonwealth Bank - Australia
  • Kohat Cement Company Ltd. - Pakistan
  • Billiton Holdings Pty Ltd - Australia
  • bp singapore
  • Essar Steel Hazira Ltd - India
  • GN Power Mariveles Coal Plant, Philippines
  • Siam City Cement - Thailand
  • Adani Power Ltd - India
  • Alfred C Toepfer International GmbH - Germany
  • Georgia Ports Authority, United States
  • Enel Italy
  • Peabody Energy - USA
  • Ind-Barath Power Infra Limited - India
  • IOL Indonesia
  • Tata Power - India
  • Humpuss - Indonesia
  • Therma Luzon, Inc, Philippines
  • Cosco
  • Bank of Tokyo Mitsubishi UFJ Ltd