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, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
|
|
|
Showing 2736 to 2740 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Planning Commission, India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
|
| |
| |
|
