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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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Saturday, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- White Energy Company Limited
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
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