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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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Monday, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
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