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, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
|
|
|
Showing 2451 to 2455 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Economic Council, Georgia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
|
| |
| |
|
