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.
|
|
Friday, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
|
|
|
Showing 4311 to 4315 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- PTC India Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
|
| |
| |
|
