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

Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...


Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...


Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...


Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...


Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...


   984 985 986 987 988   
Showing 4926 to 4930 news of total 6871
News by Category
Popular News
 
Total Members : 28,696
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

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