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, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
|
|
|
Showing 2601 to 2605 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- The University of Queensland
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
|
| |
| |
|
