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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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