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, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
...
Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
|
|
|
Showing 1461 to 1465 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
|
| |
| |
|
