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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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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the au ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
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- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Planning Commission, India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
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