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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
Wednesday, 20 April 11
TNPL SECURED 160K MT OF COAL WITH CALORIFIC VALUE 6000 GAD AT US$ 93.44 PMT
COALspot.com - Delhi based Knowledge Infrastructure Systems Pvt. Ltd once again offered the lowest price of US$ 93.44 per metric ton for calorific v ...
Wednesday, 20 April 11
TSI LAUNCHES GEO-COAL UPGRADING TECHNOLOGY
Simple yet effective process boosts calorific value of low rank coal to provide lower cost energy across the world.
Press Release - Total Sinergy ...
Wednesday, 20 April 11
ADARO TO PAY OUT RP 970B IN DIVIDENDS - THE JAKARTA POST
The Jakarta Post reported that, the annual shareholders meeting of coal producer PT Adaro Energy on Wednesday agreed on the disbursement of Rp 970.7 ...
Wednesday, 20 April 11
INDIA IMPORTS MORE COAL FROM INDONESIA
COALspot.com - Indonesian coal exports jumped 23.31 percent during March 2011. The world’s largest coal exporter shipped 27, ...
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- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
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