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.
|
|
Sunday, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
Friday, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
|
|
|
Showing 4136 to 4140 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- ASAPP Information Group - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
|
| |
| |
|
