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, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
|
|
|
Showing 4521 to 4525 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Australian Coal Association
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
|
| |
| |
|
