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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, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
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