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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
Friday, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
|
|
|
Showing 3401 to 3405 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Planning Commission, India
- Central Electricity Authority - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
|
| |
| |
|
