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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 $152 million selling shares in an August IPO.
Source: Bloomberg ( By Jesse Riseborough and Yoga Rusmana )
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Wednesday, 22 July 15
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS | INTERMODAL
In both bulk shipping sectors, there are certain, yet different, reasons and strategies to invest. In the wet, buy once you can charter-out long, w ...
Tuesday, 21 July 15
CHINA'S ENERGY COMMODITY IMPORTS DIVERGING - RICHARD SCOTT | HELLENIC SHIPPING NEWS
Energy commodity imports into China have grown enormously over the past decade, boosting global demand for shipping capacity. But a dramatic change ...
Tuesday, 21 July 15
FOB INDONESIA COAL SWAPS EXTEND LOSS
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week. The swaps was lost 0.70%.
...
Tuesday, 21 July 15
Q4'15 FOB RBCT COAL SWAP DECLINES NEARLY 3.13 PER CENT MONTH OVER MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Monday, 20 July 15
FOB NEWCASTLE COAL SWAP SEE FURTHER DECLINES
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.32 per MT (-2.89%) month over month to US$ 44.43 per mt. The swap ...
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- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Australian Coal Association
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
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