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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, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
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- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Australian Coal Association
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
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