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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
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