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, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
Thursday, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
|
|
|
Showing 3536 to 3540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
|
| |
| |
|
