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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, 12 July 18
SUPRAMAX: INDO/CHINA COAL RV IS BEING FIXED AROUND USD 10500 BSS SINGAPORE - FEARNLEYS
Capesize
Cape market continue to be extremely volatile says Fearnleys in its latst weekly report.
The further noted that, last week ended wi ...
Tuesday, 10 July 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
The trade dispute saga continued over the past week, as new tariffs were put into force on Friday in both the U.S. and China and have already taken ...
Tuesday, 10 July 18
SUPPORTING SULPHUR 2020 CONSISTENT IMPLEMENTATION - IMO
An IMO working group is meeting (9-13 July) to develop guidelines to support the consistent implementation of the 0.50% limit for the sulphur conte ...
Monday, 09 July 18
RISING COAL PRICES LIFTING AUSTRALIA'S EXPORT REVENUES BUT INVESTORS STAYING AWAY - NEWCASTLE HERALD
Newcastle coal prices have risen more than 40 per cent in a year to be at their highest levels for seven years but the industry is becoming increas ...
Saturday, 07 July 18
SUPRAMAX: THE ASIAN MARKET STRUGGLED; A 57K-DWT WAS REPORTED FIXED BASIS DELIVERY SINGAPORE FOR A TRIP VIA INDONESIA REDELIVERY INDIA AT $12K
Capesize
A punchy week for the big ships that saw Atlantic rates soar, with the tonnage list tight prompting charterers to split cargoes, thoug ...
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- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Ministry of Mines - Canada
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