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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.
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“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 )
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Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
Tuesday, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
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- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- White Energy Company Limited
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- The University of Queensland
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
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