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, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
|
|
|
Showing 2556 to 2560 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Central Electricity Authority - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
|
| |
| |
|
