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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 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
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