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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, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
Thursday, 03 September 15
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE HBA METHODOLOGY
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) in process to revise Indonesian Coal Price Reference (HBA) and expected to complete b ...
Thursday, 03 September 15
THE CHINESE STOCK MARKET AND THE CHINESE ECONOMY CONTINUE TO SUBSTANTIALLY AFFECT TRADING - INTERMODAL
The last week of the summer season saw the BDI dipping further on the back of another significant drop in rates for Capes, which brought the market ...
Wednesday, 02 September 15
PORT OF NEWCASTLE SHIPPED 13.46 MMT OF COAL IN JULY; UP 0.66 PER CENT M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.224 billi ...
Wednesday, 02 September 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
In the beginning of the summer period SnP activity was firm with numerous buyers, coming mainly from Greece and the Far East, inspecting ships and ...
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- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Parliament of New Zealand
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
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