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, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
|
|
|
Showing 4266 to 4270 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- PTC India Limited - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- The University of Queensland
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Planning Commission, India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
|
| |
| |
|
