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, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
Thursday, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
|
|
|
Showing 5366 to 5370 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- The University of Queensland
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
|
| |
| |
|
