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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, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- The University of Queensland
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
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