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, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
|
|
|
Showing 2381 to 2385 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
|
| |
| |
|
