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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- The University of Queensland
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Aditya Birla Group - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Parliament of New Zealand
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