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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Sunday, 02 December 18
TRADE WAR LEADING TO HEADWINDS FOR THE FRAGILE DRY BULK RECOVERY - PETER SAND, BIMCO
The first twelve weeks of the 2018/19 marketing year, which started on 1 September 2018, have painted a dire picture for US soya bean exports which ...
Friday, 30 November 18
GOVT MULLS REQUIRING MINERS TO TURN COAL INTO GAS - THE JAKARTA POST
The government is considering requiring all coal miners to turn the raw commodity into dimethylether (DME) as a substitute for liquefied petroleum ...
Friday, 30 November 18
SUPRAMAX: N. CHINA TO INDIA OR SE ASIA SUPRAS ARE GETTING PAID AROUND US$ 6000 - FEARNLEYS
Capesize
Sharp rise in spot activity and income, admittedly from very low levels, for the big ships. West Australia/China and Brazil/Far East b ...
Thursday, 29 November 18
NEW IMSBC CODE REQUIREMENTS AIM TO CONTROL LIQUEFACTION OF COAL CARGOES - GARD
KNOWLEDGE TO ELEVATE
The International Maritime Solid Bulk Cargoes (IMSBC) Code describes coal as a natural, solid, combustible material consi ...
Wednesday, 28 November 18
SHIPPING MARKET INSIGHT - GEORGE LAIOS
Last week I had the privilege to attend the SingularityU Greece Summit, in Athens. It was a privilege because you do not often have the chance to s ...
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- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Australian Coal Association
- The University of Queensland
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
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