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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, 21 June 15
SPOT RATE AVERAGES FOR FREIGHT FROM INDONESIA TO INDIA REMAIN STRONG THIS WEEK
COALspot.com: The freight market was quite firm this week compared to last week. The BDI was up 21% week on week and closed at 779 points. The cape ...
Friday, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
...
Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
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- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
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