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, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
|
|
|
Showing 2201 to 2205 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
|
| |
| |
|
