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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
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