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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Thursday, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
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- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
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