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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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Friday, 27 September 19
LOWDOWN ON INCOTERMS 2020 OVERHAUL - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
This ninth revision of Incoterms is changed in style and substance. The revisions improve certain aspects of Incoterms 20 ...
Thursday, 26 September 19
INDIA INCREASES ITS ANNUAL COAL PRODUCTION BY 2.7% PER YEAR FROM 850 MILLION SHORT TONS IN 2018 TO 2 BILLION SHORT TONS BY 2050 - EIA
Worldwide coal production holds steady at about 8 billion short tons, or 160 quadrillion British thermal units (Btu), per year through 2040. Inc ...
Wednesday, 25 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
In the past five months there has been significant activity in the asset market with the dry bulk segment being by far the most volatile in terms o ...
Tuesday, 24 September 19
9TH ANNUAL SUPPLY CHAIN INNOVATION SUMMIT 2019 ASIA PACIFIC
Summit: 9th Annual Supply Chain Innovation Summit 2019 Asia Pacific
Host: Ace Events
Website: http: ...
Monday, 23 September 19
SUPRAMAX: THE ASIAN ARENA IT WAS A SLOW START, BUT DEMAND INCREASED AS THE WEEK WENT ON - BALTIC BRIEFING
Capesize
The market trended down over this past week, breaking the market out of its upward trending range. While the market traded sideways at ...
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- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Latin American Coal - Colombia
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
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