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, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
|
|
|
Showing 4531 to 4535 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- White Energy Company Limited
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- PTC India Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
|
| |
| |
|
