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.
|
|
Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
|
|
|
Showing 4756 to 4760 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Economic Council, Georgia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
|
| |
| |
|
