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.
|
|
Wednesday, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
|
|
|
Showing 1386 to 1390 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Australian Coal Association
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
|
| |
| |
|
