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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- White Energy Company Limited
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
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