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, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
|
|
|
Showing 4501 to 4505 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
|
| |
| |
|
