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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, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
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