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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
|
|
|
Showing 1856 to 1860 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- McConnell Dowell - Australia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Goldman Sachs - Singapore
|
| |
| |
|
