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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, 09 January 19
SHIPPING MARKET INSIGHT - INERMODAL
Paraphrasing the words of a Chief economist in a latest report of the World Bank Group, the current state of the shipping market very much resemble ...
Tuesday, 08 January 19
GLOBAL TRADE GROWTH EXPECTED TO REMAIN AT HEALTHY IN 2019 - ALLIED
2019 is here and we find ourselves with new challenges for the shipping industry and the global economy as whole, with market prospects being neith ...
Monday, 07 January 19
THE NEWCASTLE BENCHMARK SPOT PRICE IS FORECAST TO DECLINE FROM AN ESTIMATED AVERAGE OF US$105 A TONNE IN 2018 TO US$74 A TONNE IN 2020 - DEPARTMENT OF INDUSTRY, AUSTRALIA
• The Newcastle benchmark spot price is forecast to decline from an estimated average of US$105 a tonne in 2018 to US$74 a tonne in 2020, prim ...
Monday, 07 January 19
INDONESIAN GOVERNMENT DECLARED COAL BENCHMARK PRICE FALLS FOR FIFTH STRAIGHT MONTH IN JANUARY 2019; LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 07 January 19
RUSSIA'S COAL PRODUCTION UP 5.9% TO 433.4 MLN TONNES IN 2018 - TASS
Coal production in Russia in 2018 increased by 5.9% year-on-year to 433.4 mln tonnes, according to the Central Dispatching Department of Fuel Energ ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
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