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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.
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“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 )
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Thursday, 24 August 17
SUPRAMAX: LOW $10K FOR INDO COAL TRIPS TO INDIA; AROUND $10K FOR INDO TO CHINA TRIPS - FEARNLEYS
Supramax
This week Supras from the Black Sea on fhaul have seen numerous orders and improving rates.
53-57k dwt vessels have been fixed at e ...
Wednesday, 23 August 17
THE STRONG IRON ORE TRADE ROUTES SUPPORT CAPESIZE SEGMENT - INTERMODAL
The upward trend in the Capesize segment is definitely being supported by the strong momentum in the key iron ore trade routes. The price of high-q ...
Tuesday, 22 August 17
WHAT IS A RELEASE CALL?
KNOWLEDGE TO ELEVATE
Joining a mutual P&I Club means each Member shares in the fortunes of that Club and its membership. The continuity of ...
Tuesday, 22 August 17
THOSE DOG DAYS OF SUMMER STEEL PRODUCTION IN CHINA - COMMODORE
COALspot.com: One popular but inaccurate narrative that makes the rounds every June and July (and occurred again this year) is that China’s s ...
Monday, 21 August 17
BANPU REVEALS FIRST HALF 2017 WITH STRONG RESULTS; SUPPORTED BY HIGHER COAL PRICES
Banpu Reveals First Half 2017 with Strong Results from Higher Coal Prices Gearing Up to the Era of New Energy with Banpu Greener & Smarter Stra ...
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Showing 1961 to 1965 news of total 6871 |
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- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
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