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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, 04 November 10
GVK TALKS WITH MEC FOR INDONESIAN MINES DEAL - DNA INDIA
As reported by DNA India, GVK Power and Infrastructure on Wednesday said it is in talks with Gulf-based MEC Coal to buy its coal mines in Indonesia, ...
Wednesday, 03 November 10
PANAMAX SIZE DRY-BULK CARRIER MARKET IS STRONG - GERSON LEHRMAN
Panamax class vessels have been part of the fluctuation of the broader current dry bulk market. They have experienced occasional steep movements, du ...
Tuesday, 02 November 10
ADDED VALUE REMAINS STAGNANT - MAJALAH TAMBANG
The improvement of added value of mining products in accordance with mandate of the mining law has not been visible. Minerals and coal are still exp ...
Saturday, 30 October 10
THE SUPRAMAX FREIGHT MARKET THIS WEEK REMAINED ALMOST AT LAST WEEK LEVELS - VISTAAR SINGAPORE
COALspot.com: The freight market this week remained almost at same levels except for Panamax index which was up by 191 points.
The feast/SE Asia ...
Friday, 29 October 10
CAPE MARKET STARTED TO BREAK THOUGH THE UPWARDS RESISTANCE LEVEL OF USD 40K DAILY FOR SPOT CARGOS - FEARNLEYS
HANDY
The Atlantic markets remain flat and lackluster. The expectations that the grain ...
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- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
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