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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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Tuesday, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- The University of Queensland
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
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