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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 27 April 11
DRY BULK MARKET LACKS ACTIVITY, RATES KEEP RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the Easter Holidays for a large of the world now behind, the dry bulk market kept lacking activity on Tuesday, which led the Baltic Dry Index ( ...
Tuesday, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
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- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Australian Coal Association
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
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