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.
|
|
Thursday, 17 October 13
CHINA'S COAL IMPORTS DOWN 9.4% TO 25.96 MMT IN AUGUST
COALspot.com: China's August Imported coal volumes down 9.4% m-m but up 27% y-y, BNP said in its latest China Coal & Power report released on 1 ...
Wednesday, 16 October 13
NEW STRATEGIES AND OPPORTUNITIES IN A RAPIDLY EVOLVING COAL INDUSTRY
The 12th Annual Coal Markets assumes even more significance as the industry seeks more market information, inputs on trade strategies, supply and de ...
Wednesday, 16 October 13
CAPES: RATES DROPPED; PANAMAX: ADVANCED - INTERMODAL
After a month and a half of straight weekly positive closings, the BDI has finished the week in the red. Monday started slow as holidays in the East ...
Wednesday, 16 October 13
WILL THIS LATEST DRY BULK MARKET UPTREND PROVE TO BE AS LONG-LIVED OR JUST ANOTHER MOMENTARY SPIKE? - CHRISTOS MANZTIOS
COALspot.com: So here we are again facing the same old question: Will this latest market uptrend prove to be as long-lived as all owners hope or jus ...
Wednesday, 16 October 13
KOSEP TO IMPORT 0.49 MILLION TONS OF 4600 NAR COAL FOR JAN - FEB '14
COALspot.com - Korea South-East Power Co., a Korean generator and distributor of electricity on behalf of five Korean Gencos intends to procure 490, ...
|
|
|
Showing 4061 to 4065 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- India Bulls Power Limited - India
|
| |
| |
|
