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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, 10 August 17
ANOTHER ACTIVE WEEK FOR THE PANAMAXES WITH INCREASING RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
Both basins have remained fairly flat, could say slightly to the negative. A quiet start of the week in the Pacific with holidays in Sin ...
Wednesday, 09 August 17
THE KEY IMPORTERS OF U.S. COAL FOR THE FIRST FIVE MONTHS OF 2017 ARE THE NETHERLANDS, INDIA AND JAPAN - PETER SAND, BIMCO
US seaborne coal exports have turned years of negative growth around and seem to be climbing for a third quarter in a row. The increase in total vo ...
Wednesday, 09 August 17
INDONESIAN COAL PRICE REFERENCE INCREASE COULD CONTINUE IN THE COMING MONTHS
COALspot.com: Indonesian coal benchmark price rose 6.36% in August, government data showed.
The benchmark price of Indonesian thermal ...
Wednesday, 09 August 17
COAL HAS GAINED AROUND 40% OVER THE PAST TWELVE MONTHS; IRON ORE HAS MOVED FROM AROUND $50/T IN AUGUST 2016 TO OVER $70/T TODAY - INTERMODAL
During the summer’s peak, and with the markets remaining relatively quiet, we can argue that most markets have built solid foundations to enj ...
Tuesday, 08 August 17
THE BULLISH RIDE CONTINUES ON FOR THE IRON ORE MARKET - GEORGE LAZARIDIS
The bullish ride continues on for the iron ore market, with most in the market now eyeing the possibility for further gains to be had as Chine ...
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Showing 1976 to 1980 news of total 6871 |
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- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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