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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, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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- Australian Coal Association
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
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