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.
|
|
Wednesday, 18 September 13
DRY BULK MARKET CONTINUED TO ADVANCE - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market continued to advance at a very fast pace, with the BDI closing off the week north ...
Tuesday, 17 September 13
BUMA PRODUCED 3.57 PERCENT MORE COAL IN AUGUST
COALspot.com: BUMA has removed totaled 25.20 million bcm of overburden to produce 2.90 million tons coal in August 2013. BUMI produced 3.07 percent ...
Tuesday, 17 September 13
NEWCASTLE PORT SHIPPED ABOUT 27 PERCENT MORE COAL WEEK ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 27.26 per cent week on week to 3.01 million mt for ...
Tuesday, 17 September 13
TAIPOWER INVITES BIDS FOR SUPPLY OF SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open tende ...
Tuesday, 17 September 13
ORPHEUS SECURES SIGNIFICANT INFRASTRUCTURE DEAL THROUGH ACQUISITION OF SOUTH KALIMANTAN PORT CAPACITY
COALspot.com : Orpheus Energy Limited (ASX: OEG) of Australia has today announced that, it has executed a binding agreement with the proprietor of S ...
|
|
|
Showing 4116 to 4120 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- The University of Queensland
- Parliament of New Zealand
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
|
| |
| |
|
