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, 07 October 13
SGX - CFR SOUTH CHINA COAL SWAPS END ALMOST FLAT
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
Monday, 07 October 13
Q3'14 SUB-BIT FOB INDONESIA COAL SWAP CLOSED 6.53% HIGHER THAN Q4'13
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery gained 0.53 % on day and fell 2.33 percept month on month ...
Sunday, 06 October 13
DRY BULK FREIGHT MARKET STAYS STEADY IN SPITE CHINESE HOLIDAYS - SOLYM CARRIERS SINGAPORE
COALspot.com: The freight market continued to remain firm in spite of Chinese holidays.
The BDI closed at 2,084 points on Friday 4 October or up ...
Saturday, 05 October 13
CAPESIZE EARNINGS SKYROCKET AS A RESULT OF INCREASED CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
An increased iron ore demand has triggered this latest dry bulk rally, which could get yet another boost during next week, when China is expected to ...
Friday, 04 October 13
NICKEL ORE SHIPMENTS - LESSONS LEARNED FROM LOSSES
One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fue ...
|
|
|
Showing 4081 to 4085 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
|
| |
| |
|
