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, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
Thursday, 25 November 10
JSW ENERGY BUYS CANADIAN COAL FIRM FOR $411 MN - NDTV PROFIT
NDTV Profit reported that, Sajjan Jindal-owned JSW Energy on Wednesday said it has entered into an agreement to buy out British Virgin Islands-based ...
Thursday, 25 November 10
DRY BULK MARKET STILL GOING STRONG THIS WEEK, CAPESIZE SECTOR LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI) gaining a further 0.64% to e ...
Wednesday, 24 November 10
COAL PRODUCTION PREDICTED TO CLIMB IN SUNNIER 2011 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal producers are expected to increase output by 13 percent in 2011, thanks to predicted better ...
Monday, 22 November 10
RUSSIA'S KTK HAS PRODUCED 4.59 MLN TONNES OF COAL IN FIRST 9 MONTHS OR AN INCREASE OF 5% YEAR-ON-YEAR
COALspot.com (Press Release) - KTK has produced 4.59 mln tonnes of coal in first nine months or an increase of 5% year-on-year.
Kuzbasskaya Topli ...
|
|
|
Showing 5516 to 5520 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Minerals Council of Australia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
|
| |
| |
|
