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, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
Wednesday, 04 September 13
RBCT SHIPPED 16.18 PERCENT MORE COAL IN JULY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal South African as well as in the world has shipped 6,162, ...
Wednesday, 04 September 13
SUPRAS AND HANDIES : INDONESIAN COAL CARGOES ARE SUPPORTING HEALTHY ACTIVITY LEVELS - INTERMODAL
The Dry Bulk market has pooled back a bit this week after firming for two weeks in a row. The BDI is s holding above 1,100 points and despite the sm ...
Tuesday, 03 September 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 22.93 PER CENT MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 22.93 per cent week on week to 3.39 million mt for ...
Sunday, 01 September 13
COAL SWAP SHOWS MIXED TREND
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery 1.25 percent up month on month. The swap was moved posit ...
|
|
|
Showing 4141 to 4145 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
|
| |
| |
|
