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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
|
|
|
Showing 2796 to 2800 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Australian Coal Association
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
|
| |
| |
|
