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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
|
|
|
Showing 3646 to 3650 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- The University of Queensland
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Parliament of New Zealand
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
|
| |
| |
|
