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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, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
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