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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, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
Wednesday, 07 March 18
WHEN AN IRRESISTIBLE FORCE MEETS AN IMMOVABLE OBJECT - GARD
KNOWLEDGE TO ELEVATE
Negotiable bills of lading are fundamental to trade. As documents of title, they are essential to the sale and carriage o ...
Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combinati ...
Tuesday, 06 March 18
FOREIGN INVESTORS ALLOWED TO BID FOR BIG MINING CONCESSIONS - THE JAKARTA POST
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be ...
Tuesday, 06 March 18
LNG VESSELS HAVE EMERGED AS THE FASTEST GROWING SEGMENT FOR THE WATERWAY - GERRY LATHROP
The day was July 25th 2016, a partly cloudy day on the Panama canal, and to most people a rather innocuous day without any real merit, however in s ...
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- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
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