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.
|
|
Wednesday, 22 November 17
THERMAL COAL WAS FLAT AMID CONCERNS OF FURTHER GOVERNMENT INTERVENTION IN CHINA, SAYS DANIEL HYNES
Coal prices were mixed. Thermal coal was flat amid concerns of further government intervention in China, said Daniel Hynes Senior Commodity Strateg ...
Wednesday, 22 November 17
CHINA CONSUMES MORE THAN TWO-THIRDS OF THE GLOBAL SEABORNE IRON ORE MARKET; PRODUCES AS MUCH STEEL AS THE REST OF THE WORLD COMBINED - CHRISTOPHER T. WHITTY
China consumes more than two-thirds of the global seaborne iron ore market and at the same time produces as much steel as the rest of the world com ...
Monday, 20 November 17
INDONESIAN COAL BENCHMARK PRICE SURGES 0.86% TO $94.80 A TON, GOVERNMENT DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 0.86% in November compared to declared price in October, the latest ministerial decree showed. ...
Friday, 17 November 17
U.S. PRODUCED 678.8 MMST OF COAL YEAR TO DATE; 9% UP Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.8 million short ton ...
Thursday, 16 November 17
PANAMAX ACTIVITIES HAVE SLOWED DOWN QUITE SUBSTANTIALLY THE LAST WEEK - FEARNLEYS
Supramax
Another week with rates easing over all the Supra routes within Atlantic.
Front hauls from USG got payed around 21-22k daily and ul ...
|
|
|
Showing 1871 to 1875 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Planning Commission, India
|
| |
| |
|
