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, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
|
|
|
Showing 2066 to 2070 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- PTC India Limited - India
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- CNBM International Corporation - China
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
|
| |
| |
|
