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, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
|
|
|
Showing 2566 to 2570 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
|
| |
| |
|
