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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, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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