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, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
|
|
|
Showing 4976 to 4980 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Planning Commission, India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
|
| |
| |
|
