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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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Wednesday, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
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