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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, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 25 March 16
DRY BULK SHIPPING FLEET WILL GROW BY 1.3% DURING 2016 - BIMCO | HELLENIC SHIPPING NEWS
The dry bulk market will keep on suffering, at least until the start of 2017 and possibly well after that, should the current balance of supply and ...
Friday, 25 March 16
U.S COAL PRODUCTION DECLINED 9.1% W/W - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million shor ...
Thursday, 24 March 16
PERSISTENT OVERCAPACITY TO PROLONG CHINA'S COAL SECTOR DOWNTURN - FITCH
China's coal sector is likely to remain under pressure in the short to medium term as structural weaknesses in demand and overcapacity persist, ...
Thursday, 24 March 16
SEABORNE TRADE: CHECKING UP ON THE TRENDS - CLARKSON RESEARCH
Following a decline in 2009, seaborne trade grew on average by 4.9% p.a. in 2010-13, reflecting booming import demand in a number of key importing ...
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- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
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