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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
|
|
|
Showing 3666 to 3670 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
|
| |
| |
|
