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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, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
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- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Australian Coal Association
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
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