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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Tuesday, 11 December 18
SHIPPING MARKET ANALYSIS - ALLIED
A lot of discussions have been made as to the effects of the IMO 2020 regulation on OPEX levels, investment feasibility of& ...
Tuesday, 11 December 18
PORT OF NEWCASTLE SHIPPED 10.849 MMT OF COAL IN NOVEMBER DOWN 23.44 PERCENT MOM
COALspot.com: The Port of Newcastle, Australia’s major trading port and the world’s largest coal export port has shipped A$ 1,574.8 mil ...
Thursday, 06 December 18
IN THE EAST, BIGGER SUPRA WAS FIXED CA US$ 10K FOR INDO-CHINA COAL ROUND - FEARNLEYS
Capesize
There is cautious optimism for the Capes, with healthier volumes and improving rates in the Pacific. West Australia round is gradually ...
Thursday, 06 December 18
U.S. COAL CONSUMPTION IN 2018 EXPECTED TO BE THE LOWEST IN 39 YEARS - EIA
EIA expects total U.S. coal consumption in 2018 to fall to 691 million short tons (MMst), a 4% decline from 2017 and the lowest level since 1979. U ...
Thursday, 06 December 18
DEMAND RISKS WEIGH ON GLOBAL SHIPPING SECTOR OUTLOOK - FITCH RATINGS
The global shipping sector outlook remains negative reflecting the demand-side risks of protectionism and slower economic growth, Fitch Ratings say ...
|
|
|
Showing 1536 to 1540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- The University of Queensland
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Planning Commission, India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
|
| |
| |
|
