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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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Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
Thursday, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
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- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
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