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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, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
Monday, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
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- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- The University of Queensland
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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