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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
Wednesday, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
|
|
|
Showing 3561 to 3565 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
|
| |
| |
|
