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.
|
|
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
|
|
|
Showing 4731 to 4735 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
|
| |
| |
|
