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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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Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
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Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
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- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
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