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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, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
Tuesday, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
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Showing 2421 to 2425 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Planning Commission, India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- The University of Queensland
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
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