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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, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
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