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 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
Tuesday, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despi ...
Monday, 25 June 18
AUSTRALIA'S NEWCASTLE PORT SHIPPED 12.179 MT OF COAL IN MAY; DOWN 14.77% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,453.6 Mi ...
Monday, 25 June 18
COAL IN THE CROSSFIRE: CHINESE TRADERS WARY OF BEING BURNT BY TRADE WAR - REUTERS
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose s ...
Saturday, 23 June 18
COAL GROUP TARGETS 9 PER CENT REVENUE SPIKE - VIET NAM NEWS
Viet Nam News reported, the Viet Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) ...
|
|
|
Showing 1691 to 1695 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
|
| |
| |
|
