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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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Monday, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
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- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
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