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.
|
|
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
|
|
|
Showing 2681 to 2685 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
|
| |
| |
|
