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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, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
Wednesday, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that ...
Tuesday, 14 February 17
OPTIMISM HAS STARTED TO SLOWLY FLOW BACK INTO THE DRY BULK MARKET - GEORGE LAZARIDIS
Optimism has started to slowly flow back into the dry bulk market, with many in the market showing renewed optimism as the Pacific basin starts to ...
Monday, 13 February 17
COMBINED COAL SALES OF BUMI RESOURCES ROSE TO 87.7 MILLION TONS IN FY'16; UP 10.6 PERCENT Y/Y
COALspot.com: Combined Coal Sales of Bumi Resources rose to 87.7 million tons in FY’16 compared with 79.3 million tons in FY’15. ...
Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
COALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.
The Balt ...
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- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Planning Commission, India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
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