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, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
|
|
|
Showing 3301 to 3305 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
|
| |
| |
|
