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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- PTC India Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- The University of Queensland
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
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