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, 29 January 19
HARD COAL BEARS THE BRUNT OF THE RECOMMENDATIONS OF THE COMMISSION GROWTH STRUCTURAL CHANGE AND EMPLOYMENT - VDKI
Press Release: Hard coal bears the brunt of the recommendations of the Commission Growth Structural change and employment.
In its fi ...
Tuesday, 29 January 19
CHINA HAS BEEN THE TOP DRIVER OF GLOBAL GROWTH FOR NEARLY TWO DECADES - ALLIED
China has been the top driver of global growth for nearly two decades now, pushing demand for seaborne trade and being the key influencer for deman ...
Saturday, 26 January 19
SUPRAMAX: NICKEL ORE RUNS SAW A 56K DWT VESSEL, DELIVERY PHILIPPINES, FIXED FOR A TRIP TO CHINA AT $6K - BALTIC BRIEFING
Capesize
A week of dashed hopes for owners as the optimism evident the previous week evaporated. Rates slipped on all routes and underlying thr ...
Thursday, 24 January 19
ANOTHER DISAPPOINTING WEEK FOR PANAMAX OWNERS; MARKET CONTINUES DOWN IN BOTH BASINS - FEARNLEYS
Capesize
The week has been marked by low activity and dropping rates in both basins. As usual, supply additions have increased at the beginning ...
Thursday, 24 January 19
KOREA SOUTHERN POWER INVITED BIDS FOR 960K MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
|
|
|
Showing 1481 to 1485 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
|
| |
| |
|
