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, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
Thursday, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
|
|
|
Showing 4541 to 4545 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
|
| |
| |
|
