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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, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
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- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Australian Coal Association
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
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