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, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
|
|
|
Showing 1911 to 1915 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
|
| |
| |
|
