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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, 19 December 18
GLOBAL COAL DEMAND SET TO REMAIN STABLE THROUGH 2023, DESPITE HEADWINDS - IEA
While global coal demand looks set to rise for the second year in a row in 2018, it is forecast to remain stable over the next five years, as decli ...
Wednesday, 19 December 18
GLOBAL SHIPPING SCOUTS FOR FUTURE GROWTH - PETER SAND, BIMCO
Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we sh ...
Wednesday, 19 December 18
SHIPPING MARKET INSIGHT - INTERMODAL
As another year is coming to an end, it is interesting to look at the main shipping markets and how these performed compared to 2017.
&nb ...
Tuesday, 18 December 18
COAL DEMAND WILL REMAIN STEADY THROUGH 2023, INTERNATIONAL ENERGY AGENCY SAYS - TOM DICHRISTOPHER, CNBC
Coal consumption is on the rise but will remain roughly stable over the next five years, the International Energy Agency forecasts.
...
Tuesday, 18 December 18
DRY BULK: IN ABSOLUTE TERMS, ALL MAIN SIZE SEGMENTS SAW THEIR ACTUAL VOLATILITY FIGURES DECREASE - ALLIED
Since the beginning of 2016, when the dry bulk market reached its absolute bottom, freight rates have been ever since on an upward trajectory. Taki ...
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- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Central Electricity Authority - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
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