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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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Thursday, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
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- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- GMR Energy Limited - India
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