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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 21 December 10
CHINA COAL CAP TO BOOST GLOBAL M&A - FINANCIER WORLD WIDE
Financier World Wide reported that, Chinese state-run media has reported that the Central Government intends to cap domestic coal production for fea ...
Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
|
|
|
Showing 5481 to 5485 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Australian Coal Association
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
|
| |
| |
|
