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.
|
|
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
Thursday, 05 May 11
AKR NAMES KARUNIA AS COAL CONTRACTOR
Insider Stories reported that, PT AKR Corporindo Tbk has appointed PT Karunia Bumi Khatulistiwa as the contractor of coal mining concession in North ...
Tuesday, 03 May 11
DRY BULK MARKET OUTLOOK SEEN WEAK, AS SHIP OWNERS PILE UP MORE SHIPS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Baltic Dry Index not trading yesterday, it’s worth taking a step back to see the current freight levels. First of all, capesizes and ...
Tuesday, 03 May 11
THE HANDY MARKET CONTINUED TO SLIDE DOWN - BRS
There were marginal increases in rates for the larger sizes this week, with the Cape index remaining stable and the Panamax index logging a 5% incre ...
Monday, 02 May 11
ADARO POSTS 11.7 PERCENT INCREASE IN REVENUES ON HIGHER PRICES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s second-largest coal producer, PT Adaro Energy Tbk, announced an 11.7 percent increase in net reven ...
|
|
|
Showing 5276 to 5280 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- The University of Queensland
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Planning Commission, India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
|
| |
| |
|
