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.
|
|
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
|
|
|
Showing 4716 to 4720 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- PTC India Limited - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
|
| |
| |
|
