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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, 27 July 17
A VOLATILE WEEK IN THE CAPE MARKET - FEARNLEYS
Supramax
The black sea still performing well although bit fewer fixtures concluded/reported. Rates lie somewhere around 18 -19 on front-haul . Bo ...
Wednesday, 26 July 17
SHIPPIPNG MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
After an admittedly challenging 2016, the Dry Bulk market kicked off this year on a much more positive note, with all indices steadily increasing u ...
Monday, 24 July 17
THE FREIGHT MARKET ROSE THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK
COALspot.com: The Freight market rose this past week compared to the previous week, as BDI and Cape indexes show a positive trend week over week.
...
Friday, 21 July 17
ESTIMATED WEEKLY U.S. COAL PRODUCTION TOTALED APPROXIMATELY 15.3 MMST; UP 13.5% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tonn ...
Thursday, 20 July 17
SUPRAMAX: INDO COAL ROUNDS ARE TRADING AROUND MID/HIGH $11K WITH SINGAPORE DELIVERY - FEARNLEYS
Supramax
A positive week again in the Pacific with rates moving upwards.
According to Fearnleys Weekly Dry bulk report, Nopac rounds are pay ...
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Showing 1996 to 2000 news of total 6871 |
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
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