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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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Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 m ...
Tuesday, 21 June 11
SURGE IN PRODUCTION AND PRICES TO PUSH BUKIT ASAMS NET PROFITS ABOVE RP 3T - THE JAKARTA GLOBE
State-owned coal company Perusahaan Tambang Batubara Bukit Asam expects its net income to increase about 50 percent this year on the back of rising ...
Tuesday, 21 June 11
COURT BATTLE PUTS MASSIVE COAL PROJECT IN JEOPARDY - KOREA JOONGANG DAILY
As Korean companies race to exploit Indonesia’s abundant natural resources, two companies have been locked in a court case that has become so ...
Tuesday, 21 June 11
DRY BULK MARKET TURNS RED AGAIN ON VESSEL OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk entered this week on a negative turn, with the industry’s benchmark the Baltic Dry Index (BDI) retreating by 0.35% to end the ses ...
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- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
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