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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Thursday, 16 May 19
SUPRAMAX: INDO/CHINA COAL RV TRADING AROUND US$ 9,000 BSS S.CHINA DELIVERY - FEARNLEYS
Capesize
This volatile segment is trying to find a clear direction from the present US$ 12,000/day earnings for standard units says Fearnleys W ...
Wednesday, 15 May 19
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
Modern warfare - Trade wars & sanctions
As of May 1st, the U.S. has ended waivers to the sanctions that had allowed the top buyers of Irani ...
Monday, 13 May 19
INDONESIAN COAL PRICE REFERENCE CONTINUES TO FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Monday, 13 May 19
SUPRAMAX: SOUTHEAST ASIA THE MARKET SAW BETTER DEMAND - BALTIC BRIEFING
Cape
The market continued its rollercoaster ride last week opening with negative sentiment, but turning around in dramatic fashion by the week& ...
Thursday, 09 May 19
DEEP OFFSHORE SOUTHEAST ASIA CONGRESS 2019
Deep Offshore Southeast Asia Congress 2019
Event Date:2-3th July. 2019t
Location: Jakarta, Indonesia
Sarawak Shell Berhad (S ...
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- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
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