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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, 18 November 10
MUNDRA PORT AWARDED BEST PRIVATE PORT - COMMODITY ONLINE / HELLENIC SHIPPING
Adani Group owned, Mundra Port has been awarded the Annual Indian Maritime Gateway Award for the Best Private Port of the Year for the third consecu ...
Wednesday, 17 November 10
DRY BULK MARKET LOOKING FOR SUPPORT IN COAL TRADES AND INDIAN IRON ORE EXPORTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Nikos Roussanoglou, Hellenic Shipping reported that, the dry bulk market is lacking support to end its 13-day slide, as evidenced by Monday’s ...
Tuesday, 16 November 10
'VALLAR PLC' TO BECOME 'BUMI PLC' POST DEAL - THE JAKARTA POST
The Jakarta Post reported that, The United Kingdom’s Vallar Plc will change its name to Bumi Plc following a cash and stock transaction with t ...
Sunday, 14 November 10
THE FREIGHT MARKET CONTINUED ITS DOWN FALL - VISTAAR SINGAPORE
COALspot.com: The freight market continued its down fall with BDI down by 7.29 pct and closed at 2,313 points.
All other segments were also under ...
Saturday, 13 November 10
INDONESIA SHIPPED 8.73 % MORE COAL IN OCTOBER THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23.55 mln mt of coal in October 2010, which is 8.73 percent more compared to Septe ...
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- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
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