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.
|
|
Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
|
|
|
Showing 2276 to 2280 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
|
| |
| |
|
