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, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
|
|
|
Showing 3311 to 3315 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
|
| |
| |
|
