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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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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
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