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.
|
|
Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
|
|
|
Showing 1286 to 1290 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
|
| |
| |
|
