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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, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Monday, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
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- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
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