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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, 15 September 16
INDONESIA MAY FACE A COAL CRISIS BY 2035!
COALspot.com: Indonesia is the world’s fourth-largest coal producer and the world’s largest thermal coal exporter may face a coal crisi ...
Thursday, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
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- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Australian Coal Association
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
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