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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, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- Anglo American - United Kingdom
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- PTC India Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
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