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, 08 January 16
DRY BULK MARKET'S CRISIS DEEPENS AS RATES ARE DROPPING TO NEW RECORD LOWS BY THE DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Just when you would think that the dry bulk market is reaching its bottom, even as it has long surpassed all-time lows, each day that passes by at ...
Thursday, 07 January 16
FOB NEWCASTLE COAL SWAPS DELIVERY Q1'16 REMAIN FLAT W-O-W; UP M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $1.23 per ton (3.35%) this past week compared to the sam ...
Thursday, 07 January 16
SHIPPING WILL REMAIN VOLATILE AND INDISPENSABLE IN 2016 - MOORE STEPHENS
The ultimate definition of an optimist has been characterised as an accordion player with an answerphone. Such extreme optimism might be difficult ...
Wednesday, 06 January 16
NEW COAL PRICE PASS-THROUGH REGULATION BENEFITS CHINA IPPS - FITCH RATINGS
Fitch Ratings says the new Coal Price Pass-through Mechanism announced by the National Development and Reform Commission (NDRC) on 31 December ...
Tuesday, 05 January 16
BIG COAL MINERS PLAN HIGHER PRODUCTION THIS YEAR - THE JAKARTA POST
The country’s major coal miners plan to further boost production in 2016 although analysts estimate that an oversupply in the world’s c ...
|
|
|
Showing 2621 to 2625 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- The University of Queensland
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
|
| |
| |
|
