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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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Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
Sunday, 13 March 11
COAL NO LONGER A CHEAP ENERGY SOURCE - THE SUNDAY LEADER
The Sunday Leader reported that, the addition of power generated through coal power to the country’s national grid was initially expected to r ...
Sunday, 13 March 11
THE FREIGHT MARKET SEEMS WILL BE FIRM FOR MARCH AND APRIL - VISTAAR
COALspot.com - The freight market continued to rise with the BDI crossing 1500 points and the cape size index up by 32 pct and all other segments al ...
Friday, 11 March 11
THE HANDY MARKET IS QUITE VOLATILE
Handy
Lacklustre week as the USG is the only bright light with high volumes of petcoke/coal into the Med (paying mid 20´s bss aps USG). Litt ...
Thursday, 10 March 11
DRY BULK MARKET SHOWING SIGNS OF STRONGER RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market jumped by 3.37% yesterday, with the industry’s benchmark, the Baltic Dry Index (BDI), moving up to 1,472 points, levels no ...
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- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
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