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.
|
|
Sunday, 10 January 16
LNG BUNKERING IN ASIA: FUELING A PROMISING FUTURE? - REED SMITH
The requirement of a mandatory reduction of sulphur content in bunker fuel proposed by the International Maritime Organisation (IMO) poses a challe ...
Saturday, 09 January 16
BALTIC DRY INDEX SINKS 10% WEEK OVER WEEK TO AN ALL-TIME LOW OF 429 POINTS
COALspot.com: The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, decline around 10% we ...
Friday, 08 January 16
FOB INDONESIA COAL SWAP FOR DELIVERY H1'16 REMAIN FLAT AS DEMAND DROPS OFF
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month, flat week over week. The price for coal has been in a Dull Market sinc ...
Friday, 08 January 16
FOB RICHARDS BAY COAL SWAP FOR Q2'16 DELIVERY CLOSED UP $0.13 AT $45.50 PER TON
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap decline month over month and slightly up week over week.
The Q1’ 2016 FOB R ...
Friday, 08 January 16
WEEKLY US COAL PRODUCTION DECLINES 1.6% TO 11.7 MMST, SAYS EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.7million short ...
|
|
|
Showing 2616 to 2620 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
|
| |
| |
|
