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.
|
|
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
|
|
|
Showing 4596 to 4600 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- White Energy Company Limited
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
|
| |
| |
|
