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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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Monday, 21 August 17
INDIA'S COAL IMPORTS DECLINE TO 192 MT IN FY17 - PTI
Import of coal saw a decline of 6.37 per cent to 191.95 million tonnes (MT) in 2016-17 on higher production by CIL that saw the country move to a r ...
Monday, 21 August 17
FIRM DEMAND FOR CAPES CONTINUE TO SUPPORT DRY BULK SHIPPING
COALspot.com: The freight market was continued to rose this past week compared to the previous weeks, as BDI, Cape and Panamax indexes show a posit ...
Friday, 18 August 17
U.S. WEEKLY COAL OUTPUT UP 2.1% WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 17 August 17
DESPITE A HOLIDAY-DISRUPTED WEEK IT HAS BEEN A NEW ACTIVE WEEK FOR THE PANAMAXES - FEARNLEYS
Supramax
A very quiet start to the week with holidays in several countries. USG still bringing good results supported by a tight tonnage availabl ...
Monday, 14 August 17
CENTURIES ON, AND DRY BULK STILL RULES THE WAVES... - SARAH HOLDEN | CLARKSONS
By the late 1800s, the shipping industry had been transformed by the introduction of steam power and iron ships. Coal and grain were two of the mos ...
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Showing 1966 to 1970 news of total 6871 |
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- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Australian Coal Association
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- White Energy Company Limited
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
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