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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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Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 13 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
The improvements seen in the dry bulk market during the unexpectedly strong Q3 brought enthusiasm and optimism for a last quarter rally. Indeed as ...
Tuesday, 12 November 19
COAL IMPORTS AT MAJOR PORTS SLIP 18 PC TO 51 MT IN APRIL-OCTOBER - ECONOMIC TIMES
The Indian Ports Association (IPA), which maintains cargo data handled by these 12 ports, in its recent report, said "percentage variation fro ...
Monday, 11 November 19
EMINENT MARITIME ORGANIZATIONS AND INDIVIDUALS WERE HONORED
SHIPTEK 2019 Anchors in Greece for its 12th edition.
Eminent Maritime Organizations and Individuals were honored
Greec ...
Wednesday, 06 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
With less than two months before the end of the year, the shipping and refining industries have already taken measures and invested to accommodate ...
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- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
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