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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, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
Tuesday, 29 March 11
DUTY EXEMPTION UNLIKELY TO IMPACT COKING COAL PRICES - PTI NEWS
Press Trust of India News reported that, the exemption to certain types of coking coal from customs duty is not likely to impact steel prices at pre ...
Monday, 28 March 11
HARUM ENERGY FY10 EARNING UP 7.23% - INSIDER STORIES
Thermal coal producer PT Harum Energy Tbk (HRUM), controlled by Indonesian businessman Kiki Barki through his son Lawrence Barki, posted a slight in ...
Monday, 28 March 11
IBT RAISES CAPACITY OF PULAU LAUT TERMINAL - THE JAKARTA POST
The Jakarta Post reported that, coal infrastructure and logistics firm PT Indonesia Bulk Terminal (IBT), a subsidiary of PT Adaro Energy Tbk, plans ...
Saturday, 26 March 11
THE FREIGHT MARKET REMAINED A BIT VOLATILE THIS WEEK - CAPT. REDDY
COALspot.com - "The freight market remained a bit volatile this week", says Capt. Reddy, director of Vistaar Shipping Singapore.
Howeve ...
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- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
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