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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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Wednesday, 29 November 17
THERMAL COAL MARKETS WERE A LITTLE BIT MORE SUBDUED - DANIEL HYNES, ANZ
Coal prices were stronger, led by gains in coking coal. Premium hard coking coal jumped above USD200/t for the first time in two months, said Danie ...
Wednesday, 29 November 17
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
In line with most expectations for the end of this month, during the past days the Dry Bulk market realized a significant rebound that sent the BDI ...
Tuesday, 28 November 17
THE DRY BULK MARKET HAS SHOWN A REMARKABLE RECOVERY THIS YEAR - GEORGE LAZARIDIS
The Dry Bulk market has shown a remarkable recovery this year with the average earnings having increased by around 63% this year so far compared to ...
Friday, 24 November 17
U.S. PRODUCED 14.9 MMST FOR THE WEEK ENDING NOV 18; UP 0.9% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 23 November 17
PANAMAX: ANOTHER SLOW AND UNEVENTFUL WEEK; DECREASING FREIGHT RATES IN BOTH HEMISPHERES - FEARNLEYS
Supramax
A quiet start to the week. USG closed last week a bit tighter, and continued into the new week on a positive tone with little concluded, ...
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Showing 1866 to 1870 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- London Commodity Brokers - England
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
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