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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- PTC India Limited - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
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