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.
|
|
Monday, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
|
|
|
Showing 2376 to 2380 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Independent Power Producers Association of India
- The Treasury - Australian Government
- The University of Queensland
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Deloitte Consulting - India
|
| |
| |
|
