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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
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