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, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
|
|
|
Showing 4666 to 4670 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
|
| |
| |
|
