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.
|
|
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
Friday, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
|
|
|
Showing 5356 to 5360 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
|
| |
| |
|
