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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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Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
Friday, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
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- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- The University of Queensland
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
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