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, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
|
|
|
Showing 3756 to 3760 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
|
| |
| |
|
