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, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
|
|
|
Showing 2041 to 2045 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Goldman Sachs - Singapore
|
| |
| |
|
