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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- The University of Queensland
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
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