We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 16 November 10
ROTHSCHILD BUYS INDONESIAN COAL STAKES FOR $3 BILLION - BLOOMBERG
Bloomberg reported that, Nathaniel Rothschild, the only son of U.K. financier Jacob Rothschild, agreed to invest $3 billion in two Indonesian coal companies through Vallar Plc, allowing the nation’s biggest producer of the fuel to list in London.
Bloomberg further reported, Vallar will buy 75 percent of PT Berau Coal Energy and 25 percent of PT Bakrie & Brothers’ PT Bumi Resources in a cash and stock transaction, the company said today in a statement. Bakrie Group will be the largest combined shareholder in Vallar -- to be renamed Bumi Plc -- and have the right to nominate the chairman, chief executive officer and chief financial officer.
The reverse takeover, which gives control to the holders of the acquired company, will create an Indonesian “resources champion,” combining the nation’s largest coal producer, Bumi, and fifth-largest, Berau, according to Vallar. Rothschild, former co-president of New York hedge-fund firm Atticus Capital LLC, raised 707.2 million pounds ($1.13 billion) in Vallar’s initial public offering in London in July and had considered deals of as much as $5 billion.
|
|
Share your
coal and shipping news
|
|
“This acquisition should be well received by investors since this is a good price for high-quality coal assets,” Liberum Capital analysts wrote in a report. “A London-listed, large scale, pure play Indonesian coal play should offer a unique commodity exposure and have strong investment appeal.”
Bumi Plc will target coal output of 140 million metric tons a year and be the largest thermal-coal supplier to China, Rothschild said on a conference call.
Mandatory Offer
Vallar, whose London-traded shares were suspended today, plans to make a mandatory offer to Berau’s minority shareholders and increase its ownership in Bumi in 2011, it said. Bakrie Group will hold 43 percent of Vallar stock after the deal.
The planned London listing, the first for an Indonesian company, “will enhance our international profile, provide a currency and platform for development in the region and put us in a much stronger position to build on the organic growth that our combined assets already provide,” Indra Bakrie, proposed chairman of Jersey, Channel Islands-based Vallar, said in the statement.
The “remarkable” deal is a “win-win” for shareholders, said Rothschild, who in April ranked seventh in the Sunday Times “Rich List,” an annual estimate of net worth of the 25 wealthiest U.K.-based hedge-fund managers.
Bumi Production
Indonesia is Asia’s biggest exporter of thermal coal, used in power stations. Bumi Resources, the country’s largest coal miner by volume with a market value of 54 trillion rupiah ($6 billion), produced 60 million tons and sold 58 million tons of the fuel last year.
The Jakarta-based company is a unit of Bakrie & Brothers, an investment company controlled by the family of billionaire and politician Aburizal Bakrie, Indonesia’s fourth-richest man, according to Forbes Asia. Sovereign wealth fund China Investment Corp. bought $1.9 billion of debt from Bumi in September 2009.
Bumi shares reversed losses after today’s announcement, rising 2 percent to 2,600 rupiah at 3:40 p.m. Jakarta time. The stock has climbed 7.2 percent this year, compared with a 44 percent gain in the benchmark Jakarta Composite Index.
Berau, with a market value of 18.2 trillion rupiah, is 75 percent owned by PT Bukit Mutiara, a unit of PT Recapital Advisors. Bukit Mutiara will retain 15.3 percent after the sale, Berau said in a statement.
Berau expects to produce 17.9 million tons of coal this year, rising to as much as 22 million tons by 2012, President Director Rosan Roeslani said Aug. 19. The Jakarta-based company raised $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
|
|
|
Showing 5051 to 5055 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
|
| |
| |
|
