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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, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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- Sical Logistics Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- White Energy Company Limited
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- The Treasury - Australian Government
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