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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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Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
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- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Planning Commission, India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Posco Energy - South Korea
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