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Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
.jpg) 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, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- White Energy Company Limited
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
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