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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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Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
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- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Australian Coal Association
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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