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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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Sunday, 26 July 15
INDO-INDIA OCEAN COAL FREIGHT RATES REMAIN STEADY
COALspot.com: The freight market continued lost steam towards end of the week and all indices were showing downward trend.
The BDI was up by 3 ...
Friday, 24 July 15
U.S PRODUCED 17.2 MMST OF COAL FOR THE WEEK ENDED JULY 18; FELL 11.5% YEAR ON YEAR
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.2 million shor ...
Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The dr ...
Thursday, 23 July 15
ELEVEN NEW NICKEL SMELTERS ARE TO BE BUILT IN INDONESIA OVER THE NEXT TWO YEARS AT A COST OF $1.4 BILLION
Indonesia’s Most Reputable Nickel Event
Eleven new nickel smelters are to be built in Indonesia over the next two years at a cost of $1. ...
Thursday, 23 July 15
THE CAPESIZE SEGMENT KEPT FOUNDING SUPPORT ON INCREASED DEMAND FROM CHINESE STEEL MILLS - INTERMODAL
The Dry Bulk market closed off on Friday (17July 2015) noting substantial gains and the BDI surpassing the 1,000 points level for the first time af ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
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