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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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Monday, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Mjunction Services Limited - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- PTC India Limited - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
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