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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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Monday, 08 April 19
CHEAP COAL SWELLS IN SOUTHEAST ASIA, FOILING GLOBAL GREEN PUSH - NIKKEI
Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel unde ...
Monday, 08 April 19
SULPHUR 2020 - COUNTDOWN TO THE SWITCHOVER - LLOYD'S REGISTER
Sulphur 2020 (MARPOL Annex VI Reg. 14.1.3) is still dominating headlines and as we draw closer to the 1 January 2020 deadline it’s clear that ...
Monday, 08 April 19
INDONESIAN COAL PRICE REFERENCE PRICE PLUMMETS TO LOW NOT SEEN SINCE AUGUST 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Sunday, 07 April 19
SHIP PASSAGE PLANS - NO ROOM FOR ERROR! - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The English High Court’s judgment in Alize 1954 v Allianz Elementar Versicherungs AG (The CMA CGM Libra) is an impo ...
Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
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- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Planning Commission, India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
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