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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, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
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- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
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