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 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
Tuesday, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
|
|
|
Showing 3166 to 3170 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
|
| |
| |
|
