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.
|
|
Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
|
|
|
Showing 1311 to 1315 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Posco Energy - South Korea
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
|
| |
| |
|
