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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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Thursday, 18 June 15
MERCATOR'S KAMSARMAX FIXED WITH CLEARLAKE
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company focused on markets such as India, ...
Wednesday, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn c ...
Tuesday, 16 June 15
MERS: POTENTIAL CHARTERPARTY IMPLICATIONS - CLYDE & CO
KNOWLEDGE TO ELEVATE
South Korea's current outbreak of Middle East Respiratory Syndrome (MERS) has been the focus of much international at ...
Tuesday, 16 June 15
Q3 FOB INDONESIA COAL SWAP PRICE DOWN 50 CENTS OVER PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month but declined week over week, this past week.
The Q3 swap was clim ...
Tuesday, 16 June 15
FOB RICHARDS BAY COAL SWAPS: PRICES MOVED UP ON THE WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 1.70 ...
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- VISA Power Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
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- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
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