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, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
|
|
|
Showing 2256 to 2260 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- PTC India Limited - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Electricity Authority, New Zealand
|
| |
| |
|
