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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, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
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- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Interocean Group of Companies - India
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